A luxury new build overlooking the sea in Ocean Grove has achieved the city’s biggest sale in two years.
The five-bedroom, four-bathroom home at 57 The Terrace sold to local buyers for just under $4.2 million top asking price.
High-end builder Michael Leake built the solid concrete home with wood and copper cladding, European oak floors and natural marble.
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57 The Terrace, Ocean Grove, features an engineered slab and solid concrete walls for thermal mass and acoustic privacy.
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Enjoy an ocean view from the pool.
Situated on an elevated, north-facing block with views over the Barwon Heads Bluff, it features a resort-style swimming pool and a four-car garage.
Bellarine Property, Barwon Heads and estate agent Toby Lee said the result was both a testament to the build quality and an indication that Ocean Grove’s market was beginning to shift.
“The market has been a little slower moving over the last two years, but I think we’ve seen the market really take off since about July,” he said.
Mr Lee said the buyers were upgrading and ahead of two other local parties who were unable to purchase immediately.
The exterior features curved copper cladding.
The kitchen features a range of Miele appliances including steam and conventional ovens and an induction hob with gas cooking option.
A fireplace creates a cozy gathering space in the living room.
He said the feel of the house, which “took my breath away every time,” resonated with all who inspected it.
“I don’t think I’ve seen better build quality from Mike; he really put everything into it,” he said.
“I have been doing this for over 10 years and it is by far one of the best houses I have experienced in terms of construction.
“As soon as you walked through the front door it was such a comfortable house, with warm spaces, high ceilings and just this beautiful feeling, everyone who walked in said the same.”
An elevator provides easy access to the garage, with electric car charging station, and a studio apartment.
The wooden walls are a nod to the city’s classic beach houses.
ML Constructions worked with Splinter Society architect Chris Stanley and interiors expert Rebecca Boykett on the design to maximize garden views from every room.
The main living space is a showstopper, with floor-to-ceiling windows framing expansive ocean views and stacking sliding doors to a secluded terrace overlooking the pool and private garden.
Mr Lee said the property was in a sought-after central location, just a few doors from Ocean Grove town center and a short walk from both the beach and the Barwon River.
The last sale in Ocean Grove worth $4.2 million was in October 2023, when another new luxury building at 14 Newcomb St sold for $5.425 million.
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