Knockdown beach shack sets price record of $8.1m for North Avoca

A knockdown shack in the NSW beach enclave has sold off market for a record $8.1m to a Sydney buyer set to build a new luxury home.

North Avoca Parade where a beach shack sale has set a new record.

A knockdown beach shack at North Avoca has just sold off market for $8.1m in a price record for the popular coastal enclave, which in summer attracts Sydney-siders in droves – including big names from Atlassian, Glencore and Telstra.

McGrath Central Coast principal Mat Steinwede, a 25-year veteran of the area’s real estate scene, reckons prices in Avoca, about 90 minutes north of the Sydney CBD, have risen an astounding 30 per cent in the past year.

“It’s phenomenal. We are inundated with beachfront inquiries,’’ said Mr Steinwede, adding that most buyers are seeking a holiday house rather than an investment property.

“The buyers come from all over, particularly the northern beaches area of Sydney,” he said.

A local smash repairs business purchased the beachfront 10 North Avoca Pde, North Avoca property in 2017 for $2.8m, selling it just four years later for $8.1m.

Views to the beach from the 10 North Avoca Pde shack.

The buyer, from the Sydney suburb of Mosman, does not want to be identified but is expected to demolish the existing five-bedroom beach shack to build a luxury new home on the 556sq m land holding.

Several big names have holiday houses in the area, with high-profile analyst Paul Clitheroe owning a property just a few doors along while senior Telstra executive David Burns paid $7.9m for his North Avoca property back in June. Other big property-owning names in the Avoca area include Atlassian’s co-founder Scott Farquhar and Glencore head of industrial assets Peter Freyberg.

“North Avoca is commanding a lot of attention from people with great architectural tastes,” Mr Steinwede added.

10 North Avoca Pde sits alongside renovated mansions.

Residential sales have been strong in the area all year.

In February, McGrath sold The Pines, a beachfront home at 133 Avoca Drive, Avoca Beach at auction for $7m. It was bought by Kim and Ben Cottle. Ben is founder of FDC Construction, which builds and develops hotel projects with the pub-owning Laundy family.

Another big sale in the Central Coast area occurred in June when 18A Coral Crescent, Pearl Beach sold for $8.6m.

McGrath Long Jetty agent Scott Falconer has just listed 59 Tramway Rd, North Avoca with a price guide of $6m.

Designed by local Central Coast architect Richard Cole, the elevated five-bedroom, four-bathroom, pavilion-style property occupies a hefty 765sq m. Although it is not a waterfront it does have ocean views.