LAST night the unstoppable Sydney sales agent, Craig Pontey of Ray White Double Bay, along with Ray White Gerringong principal Neil Campbell, auctioned off the most talked about property on the South Coast of NSW for a record price.
Fashion pioneer and Ingham chicken heir Robby Ingham and wife Sarah sold their infamous block called Ocean Pines for $11.3M last night at auction.
It’s understood the picturesque 100-acre property smashed it’s reserve price by more than $3M.
The lush parcel of coastal land was auctioned at the Crooked River Winery in Gerringong, less than two hours south of Sydney.
There were four registered bidders, two of which were very active, and the winning buyer was understood to live in Sydney’s eastern suburbs.
“It was an exciting auction. The auctioneer called it on the market at $8.5M,” said Mr Pontey, who is no stranger to setting real estate records given he helped sell an Edgecliff property last year to set the highest residential property price ever sold at auction in Australia for $33.250M.
“Robby was on the phone, not in the room, but he’s over the moon with the result.
“It’s the highest price ever paid under the hammer on the South Coast.”
In September 2012, the 40-hectare parcel at242 Fern Street, Gerringongsold for $7 million, was purchased by Robby Ingham Pty Ltd.
Mr Ingham had plans to extensively develop the coastal rural holding but no work had been undertaken at the cattle grazing property despite lengthy legal proceedings which resulted in approval for the prized 10 bedroom circular development.
Ray White Gerringong principal Neil Campbell said buyer interest had come from over all over, with 1500 direct inquiries during the campaign.
“We even had expats from Singapore and Hong Kong who came to have a look at it but In the end though the four buyers who were registered to bid were all from Sydney,” Mr Campbell said.
“It’s an amazing piece of land but there’s not another one like it, despite people asking me all the time.
“Robby is ecstatic with the result. He had plans approved to build an incredible 10 bedroom circular home but he also owns a beautiful 50 acres with an amazing house just two minutes away at Gerroa overlooking Crooked River and the beach which is their weekender.”