The Australian dream of home ownership has taken a bizarre turn: a 7.5-metre-wide stretch of road is hitting the market for $420,000, but there’s a catch.
The 238 square meter plot in Sydney’s south-west may be a stretch for now, but has been advertised as ‘residential land’ available for building a ‘dream home’ and is priced from $399,000 to $419,000.
But there is an important caveat: It must remain a roadway, and no construction can be done on the property until the adjacent two-acre block is developed into a planned community with new access roads and the existing roadway is no longer needed.
“There is a restriction on the land that requires it to be made available as a ‘roadway right of way’ until such time as the municipality removes that restriction,” the property listing said.
“That will only happen when the main roads to the north are ready.”
The small plot of land in Glenfield, 43km southwest of Sydney’s CBD, is currently a narrow road connecting two side streets and passing two properties.
The road is regularly used by locals, some of whom park there occasionally, but the local Campbelltown council said it is not a public street but private property.
And while this makes it possible to sell the land, the ownership restriction means it may take some time before the plot can be developed.
The Australian dream of owning your own home has taken a bizarre turn, with a 7.5 meter wide stretch of road (pictured) hitting the market for $420,000, but there’s just one catch.
Pictured is the listing for the 238m2 block in Sydney’s south-west. Ray White said the stretch of road was a ‘fantastic opportunity for people wanting to build their dream home’
But this doesn’t stop Ray White from hailing it as a ‘fantastic opportunity for people looking to build their dream home’.
‘The surrounding neighborhood is very popular. From schools and parks to shopping centers and public transport, everything you need is just steps away,” the report said.
The listing for the Campbelltown Drive estate added that ‘the adjacent properties have all been developed and provision made for this last remaining piece of the puzzle’.
It also warned that when the road can be built on is beyond the officers’ control, but that “an application is being prepared for the subdivision of the land to the north which will allow the roads to pass through it once it has been assessed, approved and constructed’. ‘.
However, one local resident said the sale made her “sad” about the state of Sydney’s housing market.
“It’s horrible to think that for some people this is the only thing they can get,” she told the newspaper Daily Telegraph.
Most of the area has been developed over the past fifteen years.
The property for sale with Ray White only covers half of the small private road, and there is no indication yet of what will happen to the other half.