Remote property on SA’s Wedge Island selling for a steal – but there’s a catch
A unique slice of coastal paradise should be a steal at no more than $38,500, but finalising a sale could prove more difficult than it seems.
The oceanfront block on South Australia’s Wedge Island has been on the market for the past month but, based on previous island property sales, could be without a new owner for another year, said selling agent Corey Carbone, of Harris Real Estate.
“It’s a weird one,’’ Mr Carbone said of the large 1351sqm allotment at Lot 91 The Lookout.
“At that price point, we are getting a lot of inquiries – I would say anywhere between five and 15 inquiries a week.
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Wedge Island property, The Lookout, at Lot 91 has hit the market with a $35k to $38.5k asking price.
The property can only be accessed via boat or plane.
“But no one knows where Wedge Island is. They say, ‘Can I bring my caravan’ or ‘Can I bring my dogs’ – and the answer is always no, it’s an island, that’s not how this works.
“So while it’s appealing to think you can get a piece of island for next-to-nothing … the logistics can be scary.’’
The rugged and remote Wedge Island is the largest of the Gambier Islands, located near the entrance to Spencer Gulf, halfway between the Eyre and Yorke peninsulas.
Lot 91 is among 114 residential allotments on the 10sq km island but Mr Carbone said there was so far just eight homes.
Accessible only by boat or plane – with chartered flights from either Parafield or Port Lincoln costing about $1500 return – he said building a home required materials and trades to be brought to the island by barge.
But with no restrictions on the style of the home – provided it was off-grid and self-sufficient – or the time to complete the build, the new owner could relax and perhaps pitch a tent to camp on the block in the interim, Mr Carbone said.
He said while most dwellings on the island were holiday homes – with many available as short-term rentals – permanent residency on the island was a possibility, with Port Lincoln supermarkets able to facilitate grocery delivery.
Chartered flights leave from either Parafield or Port Lincoln and cost about $1500 return.
There are just eight homes on the island.
Mr Carbone said the island offered an idyllic lifestyle.
“There’s nothing like it. The fishing is amazing,’’ he said.
“It’s a little piece of paradise that not many people are really aware of and being cliffside (Lot 91) has phenomenal panoramic views and is only a short stroll to the beach.
“I would call it a bargain for (the listed price guide of) $35,000 (to $38,500) for a block on an island that you can just have all to yourself and is absolutely beautiful.
“And the logistics (of building) are not as bad as they look. It’s really a no-brainer.’’
There are currently four other land parcels listed on realestate.com.au for sale at Wedge Island, priced from $29,000 to $75,900.
– by Lauren Ahwan
Australian island properties
South Australia
Kangaroo Island and Hindmarsh Island south of Adelaide are becoming more popular among those looking to buy a home or holiday house but Wedge, Thistle and Boston islands between the Yorke and Eyre peninsulas are still relatively unpopulated.
From old beach shacks to modern holiday homes, they offer a wide range of properties for people seeking a sea change.
A three-bedroom residence on 4575sqm at Thistle Island is listed for sale with a $1.39m price guide.
Meanwhile, 6000sqm of residential land at Spilsby Island – also between the Yorke and Eyre peninsulas – sold last year for just $70,000.
The Thistle Island property a Lot 30 Whalers Drive is just one of the island’s properties on the market.
Is has epic views of the water.
New South Wales
Properties at Scotland Island on Pittwater in Sydney’s north are some of the most sought after as the picturesque spot offers a one-of a-kind lifestyle and ‘some of the cheapest waterfront homes’ in the city.
The island, which is around 1km in diameter, can only be accessed by boat.
While it offers more modest properties, it is also known for its mansions, including one on the market at 103 Florence Tce.
Former NSW premier Kristina Keneally bought a waterfront home on Scotland Island in 2017, while billionaire tech guru Mike Cannon-Brookes also owns a holiday home nearby.
Tech billionaire Mike Cannon-Brookes was rumoured to have purchased a property on the island for $8m in 2021, while Australian politician Kristina Keneally bought a waterfront home in 2017.
The Scotland Island mansion at 103 Florence Tce is a standout property.
The island is on Pittwater in Sydney’s north.
Atlassian chief executive Mike Cannon-Brookes. Picture: NewsWire / Martin Ollman
Former NSW Premier Kristina Keneally. Picture: Renee Nowytarger
Queensland
It’s not just island properties you can get across Queensland – here you can own an entire island.
Recently a deserted island with a derelict resort abandoned by its Chinese investor owner hit the market after years of mystery over its future.
The 28ha South Molle Island is the second derelict resort island in the Whitsundays to hit the market in the past few months, after the Queensland government seized Double Island for re-sale off Hong Kong billionaire Benny Wu in June last year.
Another, Keswick Island, which is part of the Whitsundays off the coast of Mackay also hit the market a few months ago as a pre-approved development site.
It features 117ha of land lease and 25ha of marine lease, along with ownership of the island’s ferry and barge.
South Molle Island in the Whitsundays.
Keswick Island is also part of the Whitsundays.
