![7 Parkside St, Sorrento - for herald sun real estate](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
7 Parkside St, Sorrento, is the final home to be built and sold on the former site of the Midway Caravan Park.
The last home to be built on a former Mornington Peninsula caravan park site has just hit the market with a whopping $6m-plus asking price.
Its come a long way from the early 2000s, when it was sold to a local builder, with a night at Sorrento’s Midway Caravan Park back then costing about $50.
Twenty years later the property has been progressively developed as gated townhouse communities and luxury stand-alone houses.
RELATED: $15m-plus Melbourne mansions listed after house price record smashed
The 8 tricks behind renovating your home to make it worth the money
20 ‘rock bottom’ Melb suburbs that you should target right now
The final home to be built there is now finished and has been listed for sale at $6m-$6.6m, with the agent handling it estimating that alone might well have covered what the builders paid for the site.
Home values in the coastal hamlet have surged over the past two decades and latest PropTrack figures show Sorrento’s median house price has jumped from $810,500 in 2015 to $1.8m today.
Vicky and Steve Smith, who run Smith Builders, bought the property in about 2005 or 2006, and initially began developing it as a series of eight gated townhouse communities.
7 Parkside St, Sorrento, is built in what was once the Midway Caravan Park site.
A townhouse in the Illoura townhouse development on the former Midway Caravan Park site was part of a $16 million gated community being built back in 2007.
Just under a decade ago they changed tack, subdividing the remaining land into five luxury home plots — and building the residences that have gone onto them.
Former Australia Post boss Ahmed Fahour is among those who have bought one of the impressive residences that have been built on the former caravan park site.
Now the Smiths have built the final residence at 7 Parkside St, Sorrento, and are selling it via Sotheby’s International Realty Peninsula boss Rob Curtain.
“This is the last new build from the old caravan park,” Mr Curtain said.
“I remember the caravan park, as I used to go through St Paul’s Rd … for the one down on the foreshore (public) they were about $20 a night … but this would have been about $50.”
With the foreshore camping zone booked out for years in advance by regular visitors, the Midway site was where those who were new to Sorrento wound up.
Multiple living zones offer light and bright spaces to entertain guests in.
The home’s architecture has plenty of coastal cool, but it’s nothing like what you’d expect in a caravan park.
But, despite its popularity — the area’s value for homes has surged in the 20 years since the caravan park was sold to the Smiths.
“I don’t know what they paid for the caravan park, but I suspect this home is worth more than that,” Mr Curtain said.
The property spans 1472sq m and was built by Smiths Builders and designed by Wolveridge Architects.
It features rammed-earth walls, bespoke tiling and a range of stone surfaces, with large windows to allow for extensive natural light.
The main living zone inside is warmed by a gas fireplace, and there is another hearth, made of rammed earth, in the poolside outdoor entertainment area which also includes a barbecue kitchen and spotted gum deck.
The pool is solar heated and self cleaning, while a home office, separate guest wing, double garage, automated irrigation and slab heating for living areas add to the home’s appeal.
The party can easily continue outside with a paved seating area warmed by a fireplace.
The home’s rammed-earth walls are a visual feature in many of the rooms.
Mr Curtain said the property had attracted a number of interested parties, with few newly-built houses on the market in the area.
“The vendors have done a great job,” he said.
“And it’s a great spot to be, so handy to everything.”
A few blocks away from Sorrento’s main village along Ocean Beach Rd, the house is also a short walk from trails along the ocean side of the town’s dual coastlines.
It is for sale via private treaty.
Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox.
MORE: Revealed: Melbourne suburb set to spike in 2025
Ex-forklift driver behind Melb’s biggest plaza buy since 2018
