SALE UNDER ADMINISTRATION - Offers required by December 16 2026

There are certain positions along the Great Ocean Road that are always going to be desirable, regardless of what currently occupies them. Set in one of Fairhaven's most highly regarded streets, with beautiful ocean views and a generous 1071sqm (app) allotment, this property presents an opportunity for a new owner with the vision to recognise its potential.

This substantial residence was clearly designed to make the most of its spectacular coastal setting. Its soaring ceilings, expansive windows and elevated living areas were ambitious for their time, creating a home that celebrated the magnificent ocean outlook and the natural beauty of its surroundings. Unfortunately, the passage of time and a prolonged period without appropriate maintenance have taken their toll, and the residence now requires extensive attention. The opportunity therefore lies in determining whether to undertake a substantial restoration of the existing home or explore the possibility of creating an entirely new residence on this exceptional allotment, subject to all necessary approvals.

For those with building experience or a willingness to undertake a significant project, the existing 4BR residence offers considerable proportions, including two separate living areas, an expansive upper level living and dining space, outdoor entertaining areas and a double garage. Whether these features can be successfully incorporated into a future renovation is a matter for prospective purchasers to investigate and determine. Alternatively, the generous allotment and elevated position provide an exciting starting point for those who have always dreamed of designing their own coastal home. The opportunity to create something specifically suited to your lifestyle, while taking advantage of the beautiful ocean outlook, is an appealing prospect.

The location is undoubtedly the property's greatest asset. Banool Road is one of Fairhaven's premier addresses, with its elevated coastal setting and proximity to the magnificent Fairhaven beach making it a highly desirable place to own a property.
Importantly, this is an offering where the value is principally in the land, the position and the potential rather than the current condition of the improvements. Prospective purchasers should undertake their own investigations into the structural condition of the residence, the feasibility and costs of renovation or demolition, and any future building possibilities. For the right purchaser, this could be the opportunity to secure a position they have always admired and create something truly special.