After nearly a year on the market, the lowering of the price tag for a resort-style estate at Kangaroo Valley has seemingly led to renewed interest from Sydney buyers.
'Camp David' is located at 45 Cavan Road, Kangaroo Valley.
This estate is located on two-and-a-half acres of manicured gardens with views of the surrounding mountain ranges.
It was listed for sale last September, with a price guide of $5 million.
However, co-selling agent, Nick Dale from Belle Property Berry said the price guide was now $4.2 million to $4.3 million, after "the owners have become more pragmatic and have now seemingly met the market".
"The interest has definitely increased," he said.
Mr Dale said the interest in the "glamourous" property was largely from Sydney-siders, who were looking for a part-time base in the area.
"The new trend is about it being a little more than a holiday house - working from home, but still keeping their place in Sydney," he said.
"They buy their 'holiday house', but it's not really their holiday place any more. It's like their second home where they spend 50 per cent of their time."
The property previously sold in 2011 for $1,575,000.
While the current owners haven't utilised it as a short-term holiday let, in the past the property has been a popular Airbnb-style listing, turning over an estimated $220,000 a year.
Tanners Creek runs through the property.
The main home features six bedrooms, four bathrooms and multiple living areas.
There are three dwellings on the property in total.
There is also a full-size tennis court and a pool and spa, as well as plenty of outdoor entertaining areas.
Mr Dale said the owners were selling as they were looking to buy a farm of at least 100 acres.
The Kangaroo Valley area has been a popular location for high-profile buyers looking for a getaway outside of Sydney.
Although many properties are being snapped up quickly across the region, there are high-end listings that remain on the market after a longer period of time.
The 100-acre property at 209 Clover Hill Road, Jamberoo has been on the market since April last year, with the marketing proclaiming that all offers be made in writing.
After an initial price guide of $4 million, the guide is now $3.6 million to $4 million.
Jacks Corner Retreat, located at 145 Jacks Corner Road, Kangaroo Valley was listed for sale in January.
The homestead has a price guide of $4.95 million.
The 40-acre homestead accommodates 22 people, and features six guest rooms, plus a main house, flat, yoga room and yurt.
Selling agent, Frank Barker from Raine & Horne Southern Highlands said a retreat centre such as this one attracted a highly specific, specialist type of buyer, as opposed to Sydney buyers seeking a weekender or permanent home.
He said a property such as this could potentially spend a period of time on the market as the appropriate buyer was sought.
"There has been interest in it from Sydney, but it's a specific market," he said.
"If I showed 100 people through properties in the area, maybe one or two would be interested in a retreat centre. When that person comes along, it will be the perfect fit."
This article first appeared on the South Coast Register.
Our journalists work hard to provide local, up-to-date news to the community. This is how you can access our trusted content: