Selling Sorrento Clifftop

We took the opportunity to sit down with James Redfern to discuss the recent activity in the exclusive Sorrento Clifftop market.

There has been some recent activity in the clifftop market. What can you tell us about this? 

Yes, there has been some recent activity and we were fortunate enough to be appointed as the agents to facilitate a number of clifftop sales. There has been a significant transaction that involved three substantial clifftop properties. The three properties were formerly a 3 acre holding with a Victorian home on it, Hindson House, and over the years it had been subdivided into three individual allotments.

Why are these sales so significant?

This was a special offering because each allotment sold separately and to the one family, which has resulted in it returning to being one of the most significant and largest land holdings on the Portsea/Sorrento clifftop, transacting for more than $60 million dollars.

What type of buyers are drawn to these offerings?

We had an interesting variety of enquiries, including expats from the UK, South Africa, USA and Canada, as well as Australians returning home. We saw interest from interstate buyers and also local Mornington Peninsula buyers. Ultimately the volume of enquiry came from Melbourne based buyers. What was interesting was seeing an undercurrent of very successful younger Entrepreneurs starting to enter this market space.

Do youanticipate a continued demand for properties like these?

The market for unusual or very rare properties is still very strong. There is an interest for special offerings like these recent sales. Buyers are very considered about what they are looking for and when they find it, they are willing to spend what it takes to secure the property.

For more information regarding market activity, contact James Redfern, 0412 360 667.