Vacant block sells for millions, sets record in waterfront street

A block of land overgrown with weeds and recently sold is a sign something isn’t quite right in Australia.

A vacant block of land overgrown with trees and grass has sold for a whopping $8m.

The block, covered in weeds, shrubs, sparse patches of grass, and small trees, went under the hammer on Saturday at 11 Awaba Street in the harbourside inner Sydney suburb of Mosman.

“A rare opportunity exists to secure a 683sqm vacant block of land just 150m (approx.) from the sparkling shores of Balmoral Beach,” read the listing.

The vacant block of land in Mosman covered in grass, shrubs, and weeds has sold for $8m. Picture: Supplied

The 683m block has set a record sale price for an Awaba St property.

The block was sold for the first time in 70 years, and while it once contained two semi-detached homes, the new owner will need to lay a foundation should they wish to build on it.

“This land holding is on one title with the potential to build your dream freestanding family home or semi-detached dwellings (subject to council approval) and enjoy everything the Balmoral lifestyle has to offer,” read the listing.

The block is a mere 150m from the beach at the end of Awaba St.

Aerial shot of the block that's sold for $8m.

“One block to Queenwood School for girls (Mosman Prep and Redlands are also local), 1km to Mosman High School and 160m to local buses. Prestigious beachfront cafes and restaurants are all within walking distance.”

It’s also the most anyone has ever paid for a property on Awaba Street.

“Balmoral, ranked in the top 10 Best Beaches of 2023 by Tourism Australia, is renowned for its clear water, its golden sand, its netted swimming baths and its choice of eateries from fish & chips to fine dining,” reads the listing.