Global commercial real estate firm, Cushman & Wakefield, has been appointed to sell ‘Watermill’, situated on White Hill Road, Red Hill on Victoria’s Mornington Peninsula. The site presents a rare opportunity to secure a freehold interest in 12 titles across an expansive 119.5-hectare property in one of Melbourne’s most exclusive locations.
The property, located around an hour’s drive south of the Melbourne CBD, is being offered to the market for the first time since 1982. The property was previously home to the Watermill Murray Grey stud and continues to operate as a small scale farming operations, running a herd of approximately 200 Angus steers.
The property, located at 725 White Hill Road, is one of the only properties boasting uninterrupted views of Port Philip Bay and Western Port Bay. The property includes a main 5-bedroom homestead originally commissioned for entertaining purposes in anticipation of the 1956 Olympics. This is complemented by three additional houses; a manager’s residence, a caretaker’s cottage and a third cottage rented out on commercial terms, and farm-related infrastructure.
Cushman & Wakefield’s - Agribusiness National Directors, Tim Bennetts and Richard Brookes are managing the International Expressions of Interest campaign on behalf of the vendor.
The property is expected to generate strong interest from local and international investors seeking to secure a large, well-positioned site with unparalleled views, that also presents a range of development opportunities subject to council approval.
Commenting on the sale, Cushman & Wakefield’s, Tim Bennetts, said: “We are pleased to be bringing the 725 White Hill Road estate to the market for the first time in over 35 years. Red Hill is home to some of Melbourne’s most exclusive prestige properties and the opportunity to secure a property like ‘Watermill’ is exceptionally rare.”
“While the property remains as a farming operation, it is set over 12 titles that offer a range of unprecedented development opportunities subject to council approval. We are offering the property to be sold in one line or in individual titles.”
“Only a handful of properties of the scale of “Watermill” have come to the market in the past 20 years in Red Hill and surrounding areas and we expect unprecedented interest from investors attracted to a property that offers so many options.”
“This property may suit a range of uses from private holiday residences, wineries and day spas through to land banking. The “Watermill” homestead is one of the only residences on the Mornington Peninsula to enjoy uninterrupted views to both Port Philip and Western Port Bays,” Mr Bennetts added.