I've been repeatedly asked this question by people who've looked at properties like 145 Beach Road, Sunshine Bay, for sale at 2.3 to 2.5 million. "Why should Riverbend's stately home on a full seven acres on a peaceful bend in the Clyde River cost less than a mere 745 square metres on very busy (and noisy) Beach Road, albeit with a very modern home and overlooking the ocean?"
And here is just one-third of Riverbend's seven acres from the air:
A = Main House, B = Guest Cottage, C = Workshop/Laundry/Outdoor Bathroom/Carport,
D = "Pizza Hut", E = "Horseshed", F = "Clubhouse", G = Library
The house at 145 Beach Road, Sunshine Bay, was built eight years ago after the current owners had bought the existing property in June 2010 for $760,000, tore it down and spent a small fortune on 'this architect designed, custom built home' which explains its pricetag of $2.3 million. It doesn't explain Riverbend's far more modest - and negotiable - price of $2.25 million for a whole seven acres of riverfront.
I take your question on notice and get back to you!