A LONG-held Mt Martha vineyard and fruit orchard close to the water might end up a multi-dwelling site.
The picturesque beachside block at 36 Augusta St is on 2.3ha alongside Balcombe Creek and has attracted strong developer interest ahead of its November 11 auction.
With potential for up to 10 large blocks or 16 lots of 1200sq m each, there has also been interstate interest as it is seen as a rare listing.
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There are two vineyard lots on the property.
The block is close to housing development yet has a semirural feel.
“It is the last such acreage beachside parcel available and has been used by the owners for nearly 40 years as a hobby farm,” Abode Mt Martha agent Paul Brown said.
In that time, the owners have cultivated grapevines, olive and fruit trees and also bee hives.
The property has a price guide of $4.5-$4.95 million. Good-sized residential blocks can fetch more than $1 million in Mt Martha, while prime beachfront lots have sold for upwards of $2 million, sales records show.
Mr Brown said the Melbourne-based owners came on weekends to tend the land and harvest the grapes, olives, fruits and collect honey.
“They are in their nineties and it is time to sell,” Mr Brown said.
“It is a unique spot so close to Walkers Beach and the estuary and could be subdivided into eight or 10 large blocks or smaller lots.”
He noted a buyer could also build a grand dream home on the site or use it as it is. The location has easy access to the village shops, sporting reserves and natural coastal surrounds.