An abandoned mansion riddled with graffiti, along with a mangy moss-filled pool, on the NSW South Coast has had a price drop of around $1m.
The property, 71 Fig Hill Lane Dunmore, is known as ‘Minnamurra Mansion’ and is an infamous local site riddled with graffiti works from locals and out of towners.
The never completed mansion, which comes with development approval for an “eco resort”, has seen a price drop from a guide of $6m-$6.6m to $5m-$5.25m.
Stone Real Estate Illawarra agents Helena and Greg Crumpton took over the marketing campaign earlier this year after the 39ha property failed to sell last year under a different agency.
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The price is just under the asking price of $5.5m from last year’s campaign.
Sales images reveal the incomplete mansion has been used as a canvas for graffiti artists both inside and out.
The property is part-owned by Melbourne horse breeder and builder David Moodie who operates Hesket Thoroughbreds. He bought into the project for $990,000 in 2019.
According to property records, he is the joint owner with Alotap Pty Ltd.
Work on the Dunmore Equestrian Centre homestead was two-thirds complete when construction stopped in 2009 after the Belmorgan companies of the property’s then owner John Kosseris went into receivership.
The property sat empty and untouched for years with ongoing court orders to restore environmentally sensitive wetlands damaged during construction work.
It has since been used as a graffiti canvas along with an illegal skate park, however has also received approval for 33 eco-villas from Shellharbour Council.
“Located just under a 2 hour drive from Sydney is this wonderful possibility to build a first class DA approved Eco Resort set in a picturesque location close to beaches, Shell Cove Marina, golf course and gorgeous coastal towns,” the listing says.
“Offering extensive frontage to the beautiful Minnamurra River and capturing views to the ocean and mountains, this one-of-a-kind property offers a world of possibilities – with options for either completing the unfinished home, or implementing DA approved plans for a landmark 33 room Eco Resort featuring a restaurant, luxurious lounge area, resort pool, bar, gym, rooftop terrace and including twenty hilltop lodges.”
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Originally published as Huge price drop for abandoned, graffiti-scarred mansion
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