Mt Martha gem lifts street price record by over a million
A cliffside home has raised the bar in a coveted Mt Martha pocket with a $4.4 million sale.
Thehome at 15 Two Bays Cres eclipsed the street’s previous record by $1.02 million, sales records show.
The three-bedroom house on 785sq m sold for $5605 per square metre, while the previous record price of $3.38 million was set in 2010 for a 3080sq m site at No. 39-41.
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Two other sales above $3 million on the street were for homes on large blocks of more than 2000sq m.
The five-year-old home built by well-known bayside company Lowe Constructions was an award winner and sold at the top of its $4.2-$4.4 million price guide.
The resort-style property benefitted from uninterrupted views of the clifftops, coastline and bay, Warlimont & Nutt director Trent Cameron said.
“It is on the cliffside of the street and overlooks The Pillars with views towards the Heads,” he added.
“It is a coveted area just a stroll to South Beach and the village, and living in the house is just like sitting on the water.”
Mr Cameron said the property was difficult to price because of its quality and position, which captures views of passing ships
The vendors paid $1.02 million for the vacant block in 2013 and developed it. The home comes with a stylish open-plan layout, with outdoor features including a pool and alfresco zone with a bar, barbecue and TV.
“The vendors will stay local and perhaps do another similar project,” Mr Cameron said.
The new owners are from the city and will spend up to 60 per cent of their time in Mt Martha, and the rest in town.
Mr Cameron said the end of autumn was the strongest on the Mornington Peninsula in many years for the agency.
“We see the market going from strength to strength and May was our best month with 21 sales,” he said.
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