8 February 2022

Gerry Harvey pays top dollar for Black Bream Point at Narooma

| Katrina Condie
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The iconic Black Bream Point property

The iconic Black Bream Point at Narooma has been sold. Photos: Webster Nolan Real Estate.

Gerry Harvey has purchased Narooma’s iconic Black Bream Point property and plans to continue operating it as a tourist escape.

Mr Harvey, the executive chairman of Harvey Norman Holdings, which runs the Harvey Norman and Domayne retail chains, is now seeking a manager to run the absolute waterfront property on Wagonga Inlet.

While the sales price has not been made public, the property was on the market via expressions of interest with a price range of $9 million to $11 million.

More than 700 expressions of interest were received.

Sales agent David Nolan from Webster Nolan Real Estate in Sydney says he received more than 700 enquiries and a “substantial number of inspections” before expressions of interest closed on Monday, 31 January.

Mr Nolan says it is the highest price ever achieved for a property in Narooma and surrounding districts.

READ ALSO Mossy Point home sells for a new record price

“Gerry says they intend to continue on in its current format and they are presently advertising for a manager, which will be the job of a lifetime,” Mr Nolan said.

“Matt Davey, who has owned Black Bream Point for 21 years, is delighted that Gerry Harvey and his family have purchased the property and are going to continue to run and maintain this wonderful property in the manner it so richly deserves.”

There’s more than 1.2 km of water frontage.

The 40-acre tourist property is also a working farm, with eight guest cottages and an owner’s residence.

Mr Nolan says the secluded retreat is in a “never to be repeated location”, boasting 1.2 kilometres of water frontage, a licenced jetty and boat ramp.

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Mr Nolan says property in Narooma is becoming a popular investment for “smart money”.

“Narooma is being discovered as a unique getaway surrounded by pristine waterways and forest,” he says.

“It’s becoming a big go-to location for some pretty successful people.”

Original Article published by Katrina Condie on About Regional.

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