What price for Paradise?

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Another waterfront property in Sproxton Lance has sold for more than a million dollars: # 7 Sproxton Lane with a small house on a 1,747 square metre block sold before auction for $1,030,000.

So, how much is "Riverbend" worth? Only potential buyers will have an answer to this question. And how do they arrive at their figure? By comparison, that's how!

Here are some past prices to understand just what a bargain "Riverbend" is at around $2 million:

# 1 Sproxton Lane 1,565 square metres sold as a vacant block in March 2006 for $605,000 - click here # 3 Sproxton Lane 1,682 square metres sold in February 2007 for 800,000 - click here # 5 Sproxton Lane 1,771 square metres sold in February 2012 for $1,200,000 - click here # 7 Sproxton Lane 1,747 square metres sold in June 1996 for $290,000, sold again in September 2013 for $1,030,000- click here # 9 Sproxton Lane 1,883 square metres sold in October 2010 for $970,000 - click here # 11 Sproxton Lane 1,872 square metres sold in May 1997 for $220,000 # 13 & 15 Sproxton Lane (double-block) still held by the original owners # 17 Sproxton Lane still held by the original owners # 19 Sproxton Lane 1,770 square metres sold in April 2006 for $925,000 - click here # 21 Sproxton Lane 1,897 square metres sold in December 2010 for $900,000 - click here # 23 Sproxton Lane 1,770 square metres sold in January 1997 for $330,000 sold again in 2013 for $960,000 - click here # 25 Sproxton Lane 1,745 square metres sold as a vacant block in March 2006 for $750,000 - click here # 27 Sproxton Lane 1,760 square metres sold as a vacant block in March 2007 for $705,000 then had modern house built on it now for sale at $1,900,000 - click here # 29 Sproxton Lane still held by the original owners # 31 Sproxton Lane 1,720 square metres sold as a vacant block in January 2012 for $750,000 to the owner of # 33 Sproxton Lane - click here # 33 Sproxton Lane 1,695 square metres sold in June 2011 for $950,000 - click here "Riverbend", # 35-39 Sproxton Lane, approx. 30,000 square metres, larger than ALL the other waterfront properties in Sproxton Lane COMBINED, for sale at around $2 million

Riverbend's large two-storey full-brick house and guest cottage and workshop and library and utility shed would easily command a large premium over recent sales of $1.03 million and $1.2 million, and the $1.7 million for a double block of 3,000 square metres, even without the extra seven acres of land.

Riverbend, because of its size, location and substantial improvements, has always been worth more than double the price of any other waterfront property in the lane.

Waterfront properties in the lane have increased in price four- and fivefold (# 33 increased almost eightfold!) since 1993 when Riverbend last changed hands. Riverbend had then been marketed at $500,000. What do you get when you multiply $500,000 by four?

The most recent assessment by a realtor who took into account the latest sales in the neighbourhood came in at $2.15million; however, the owners will consider very carefully any written offer OVER $2 million. And they offer substantial Vendor's Finance.

The owners are relocating overseas which means they take only their personal belongings with them. The lucky buyers will acquire not only the property at a bargain price but also all its high-quality furnishings, whitegoods, audio and video equipment, a fully equipped workshop, a tractor and slasher, ride-on, motor-sailer, dinghies and canoes - and neighbours to die for (ending a sentence with a preposition is something up with which I will not normally put but in this case I don't even know whether the preposition should be 'for' or 'by' ☺ ).

You have to live somewhere; it may as well be Paradise!

For more information on this unique waterfront property, click here.