Mornington Peninsula's Portsea beach box sells for almost $1,000,000

‘Fishermans Beach, Portsea boat shed fetches almost $1 million (23 NOV 2018)

A Portsea boat shed has fetched almost $1 million in its first sale in 68 years.

Eight parties made offers on Boatshed 17 on the Fishermans Beach foreshore, resulting in its sale in the middle of its $910,000 to $1 million quoted range immediately after its expressions of interest campaign ended.

The sale is believed to be a record for a beach box in Victoria.

The price is remarkably also well above Melbourne’s $780,130 median house value, according to CoreLogic.

The buyer was a family with a Portsea holiday house close to the crisp white beach box, Kay & Burton Portsea director Liz Jensen said.

“Boat sheds normally get one to two (potential buyers). This time we had eight, but they were at varying prices,” Ms Jensen said.

She said unlike the Brighton beach boxes, you didn’t need to be a resident or ratepayer in the local council area to buy a Portsea beach box.

The “privilege” of owning one of the tightly held properties was a significant selling point.

“It’s very rare for them to come up on Fishermans Beach — no one can remember the last time one did,” Ms Jensen said.

This boat shed had been in the same family since 1950.

The agent said the sellers were “very pleased the buyers are Portsea people” who’d longed to own a boat shed for some time.

The buyers would share it with their children and grandchildren, use it for shelter from the sun during hot beach days, keep beach equipment in it and just enjoy spending time in it, Ms Jensen said.

“They’re lifted up from the beach so you can store boats under them, which means you’re just looking over the water when you sit in them,” she said.

“It’s just so beautiful, watching the ships go by.”

When the property first hit the market, Ms Jensen said the only beach box she knew to be comparable in terms of price was one sold along with Portsea seaside mansion Rovina in April.

The house at 3808 Point Nepean Rd and shed combined fetched $13,803,750, according to CoreLogic, with the latter valued at about $1 million.

Portsea’s median house sale price for the year to August was $2,007,500.

The Brighton foreshore record was set at $337,000 earlier this year, by a new red and white striped beach box built and sold by the local council.

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