An idle plot at (Wolseley Road) 42 (Point Piper) Wasley Road, Pippen Cape. (picture of Daily Mail)
According to the Daily Mail, an idle piece of land in eastern Sydney covers less than three tennis courts and is filled with gravel, but the asking price for sale is as high as A $25 million, or about A $34000 per square meter.
It is reported that the plot is located at (Wolseley Road) 42 (Point Piper) Wasley Road, Peipeng Cape, with a beautiful urban landscape with an area of 740 square meters. He has changed hands eight times in the past 20 years, and the current identity of the owner has not been made public.
The asking price for the sale of the site is A $25 million, equivalent to about A $34000 per square meter.
Maluf (Bill Malouf), a sales agent, said that although the site is now full of green garbage and gravel, it has great potential. He thinks the price of the plot is very affordable.
Located at (Wolseley Road) 42 (Point Piper) Wasley Road, Cape Pippen.
Maluf points out that the median price of housing on Wasley Road is more than A $40 million. House prices on the waterfront are rarely even below A $40 million. Everyone thinks Wasley Road is the most expensive street in Australia. In addition, the plot has a development license, making the real estate unique.
Because the site is vacant, foreign buyers can also buy it, but Maluf hopes to eventually sell it to locals.
If the final price of the site is between A $24 million and A $25 million, the cost of building house is A $8 million, plus expenses such as stamp duty, and the overall cost is still below the market price.
It is reported that Peipeng Cape has a population of only 1400. Previously, a set of waterfront real estate on Wasley Road was sold for a rare price of less than A $40 million.
