Eyewatering price of humble Aussie beach shed
A beachside hut is expected to sell for up to $500,000 – in the latest example of Australia’s skyrocketing property prices.
‘Boathouse 26’ is located on the McCrae waterfront on the Mornington Peninsula, south of Melbourne. It will be auctioned on January 27.
If it sold for a price at the top end of the buyer’s guide (€470,000), a successful bidder would spend more than €20,000 per square meter.
While the price may keep some hopeful owners away, the shed is one of the most sought-after of the approximately 2,000 available in Victoria.
It is also significantly cheaper than others sold in recent years after a slightly larger shed in Portsea sold for just under $1 million.
One of Victoria’s iconic waterfront boat sheds is going to auction, with potential buyers expected to spend around $500,000
The barn is the most striking in the area, with pink stripes, a slightly fading roof and a chartreuse interior.
The barn has been owned by the same family for 50 years and is now available as a ‘great opportunity for a new family’.
“With gleaming white sands and sparkling turquoise waters in front of you, this beautiful and tranquil location is also very convenient,” the ad reads.
‘In addition to a supervised beach, you will find parking, a playground, a toilet block and a zebra crossing to various cafes and restaurants just a few moments away.’
The western location of the barn allows the new residents to watch a sunset over the water.
Any potential buyer will not own the land under the barn, but only a license to use it.
A successful buyer would pay more than $20,000 per square foot for the convenience and prestige of owning one of the state’s approximately 2,000 boathouses (photo)
The unique purchase agreement is due to the fact that the barn is being built on Crown land on the coast.
“Purchasing a boat shed or bathing shed from someone else therefore means that you are purchasing the rights to occupy the premises, on the same terms and conditions as the previous license holder,” reads the Mornington Peninsula Shire Council fact sheet.
The permit prohibits owners from using the shed for commercial or residential purposes and prohibits the addition of kitchens or bathrooms.
The city also requires a permit holder to pay annual fees and maintain the warehouse in a condition “satisfactory to the management committee.”
Violating the terms of the license agreement could result in it being revoked and the warehouse becoming vacant again.