The 100 acre waterfront property owned by the Ingham family at Gerringong has been sold under the hammer at auction for a record price overnight.
Selling agent Neil Campbell from Ray White said two of the four registered bidders took each other on until the hammer dropped at $11.3 million.
"It certainly is a record sale price for Gerringong," Campbell said.
A businessman from Sydney was the buyer and Campbell said he plans to build a house on the property.
"He's been looking for a rural block with a bit of sparkle about it and just fell in love with this one," he said.
Ray White Gerringong conducted just over 40 inspections during the auction campaign with close to 2000 enquiries.
Images: NEG Photography