Dilapidated wooden Portsea cottage hits Victoria property market for $30m
Dilapidated log cabin hits the market for $30m – but there are VERY good reasons the price is so high
- A wooden chalet in Portsea, Victoria, has been put on the market for a whopping $30million
- The land comes with private beach access and sits on the area’s famous cliff
- Cottage has no heritage restrictions so future owner can renovate however
- Land is scarce as properties along the cliffs can stay in families ‘for generations’
A dilapidated wooden chalet has been put up for sale with a whopping $30 million – but it offers unbeatably priced views from its clifftop perch.
The faded-looking former fisherman’s cottage is located on the popular Portsea Cliff, south of Melbourne, and comprises 3,457 square meters of land.
The location also has private beach access, pristine views and lush gardens – and there are no heritage development restrictions, giving the new owner a clean slate.
Potential buyers are already queuing to place an offer, with the first offer received less than an hour after the property ad went live.
A dilapidated wooden chalet (pictured) has gone up for sale with a whopping $30million price tag – but it offers cashless views from its clifftop perch
Although the cottage may be run down, the grounds include lush gardens, pristine views (pictured), private beach access and no heritage restrictions
The land along the cliffs is almost never sold in the public markets and the houses there are often kept in families for generations.
And despite the rough exterior, the property has authentic vintage features inside and jaw-dropping views outside.
Sales agent Rob Curtain said eagle-eyed buyers looking for their dream home have been waiting for something like this for years.
“Many of our cliff top buyers have been looking for the right property for many years,” he said.
“They tend to be generational homes – people don’t buy these homes to resell.”
Records show the home was owned by the McEacharn family and was last sold within the family for $253,700 in 1983.
Despite the rough exterior, the property has authentic vintage features inside (pictured)
The property’s sales agent said the house (pictured) received an offer less than an hour after it was listed, as several buyers had been waiting years for the right home
This is the first time the property has been on the market for 60 years.
Data shows the median home price in the area skyrocketed 28.3% to $3 million in the 12 months to September 2021.