Own An Island: Victoria's Sandstone Island For Sale
A private island, 600m from the Mornington Peninsula coast, has been passed in at an auction with a single, million dollar bid.
Sandstone Island comes complete with a house, two beaches, channel access and a yacht mooring site over 22.25ha of land.
Around a dozen people attended the auction of the island, however only one bid was made - $1 million. Unfortunately, the bid didn't meet the expectations of the seller, meaning that the island is back on the market.
Ray White Rural Victoria director Jason Hellyer told realestate.com.au that after a "ripping campaign" they will most probably negotiate a sale in the upcoming weeks or days.
"We have a number of registered bidders who we will negotiate with over the next week," Mr Hellyer said. "We are fairly confident of getting a result in the next couple of weeks."
It is believed that pre-auction feedback ranged between $3 million and $5 million.
More than 18 years ago, five Melbourne families bought the island, and attempted to sell it in 2015 for approximately $5 million.
The island was first settled in 1854 by the Rogers family and has been used for cattle breeding, potato farming, and more recently as a weekend getaway.