Luxury retreat Soul of Gerringong sold for more than $4 million
A converted farmhouse on the NSW south coast currently being used as a luxury accommodation has sold to a Sydney-based buyer for more than its price guide of $4 million.
The property at 143 Belinda Street, known as Soul of Gerringong, was to be sold via auction before the COVID-19 pandemic hit.
It was then withdrawn from the market before being re-listed for private sale in what agent Neil Campbell, of Ray White Gerringong, described as a “rollercoaster campaign”.
Fellow agent Craig Pontey, director of Ray White Double Bay, said more than 200 people had inspected the property over one weekend of openings that had taken place prior to the lockdown restrictions coming into force.
He said the new owner, who had been looking in the Gerringong area for some time, intended to run the property “exactly as it is”.
Mr Pontey credited a strong media campaign and vendor Simone Mathews’ vision as the reasons for the high level of interest in the property, even when travel restrictions meant people were unable to inspect it.
“Simone and [and her husband] Ben’s vision of restoring the property, creating a brand and a business and passing it on to the new owners has become a reality,” Mr Pontey said.
Mr Campbell said the vendor had been following the Soul of Gerringong on social media long before it had been listed for sale.
Initially searching for a rural lifestyle property to occupy, they were attracted to the business fundamentals and decided to invest in Soul of Gerringong while continuing their search for another property in the area.
“They followed it on Instagram and [it] tweaked their interest,” he said.
Opening as luxury accommodation in 2017, the property now consists of the original farmhouse, pool-side cabana, studio barn and a standalone cottage, spread across two titles and 1525 square metres of land, with capacity for 16 guests.
Mr Pontey said the property had already received strong booking demand since restrictions were eased in NSW on June 1.
“They are continuing to take bookings and it’s business and usual,” Mr Pontey said.
The new owners will take over the business later in the year.
