Oceanfront Gerroa acreage Elouera sells for $5.03 million to holiday home buyers

Elouera, the rare oceanfront reserve acreage at Gerroa, has been sold under the Ray White hammer at $5.03 million.

The stunning 21-hectare pasture property was sold by the Emery having been owned by the family since 1922.

The family farm was originally 50 hectares, with some of the family still retaining some adjoining farmland.

There had been $2.75 million-plus hopes for the property through Neil Campbell at Ray White Gerringong.

“The north-facing property offers numerous sites where to build a dream home with magnificent views,” Campbell’s marketing advised.

There were seven registered bidders, and the buyer intends to build a holiday home.