A lakefront shack on Victoria’s Bellarine Peninsula has hit the market with a $3.3-$3.63 million price guide. The catch? More than half of the property is underwater.
But the unusual land-to-water ratio hasn’t dampened enthusiasm, with multiple enquiries rolling in for the property at 4 McDonald Road, Queenscliff within 24 hours of the listing going live.
“About 50-60% of the nine acres is, yes, underwater. There’s a large lake on the property,” listing agent Jeremy Fan from Ray White said.
Around 50-60% of the property's 9 acres is underwater. Picture: realestate.com.au
But the three-bedroom weatherboard cottage, he’s quick to add, sits safely above the waterline.
“There’s no risk of flooding, that I’m aware of.”
Set on a sprawling nine-acre block along the tranquil edge of Swan Bay, the home offers sweeping bay views, abundant wildlife and a level of privacy that’s increasingly hard to find on this stretch of coastline.
A winding path leads down through native woodland and open lawns toward the water’s edge, where birds and fish are regular drop-ins.
“It definitely attracts wildlife. Birds and also fish, as the lake connects to Swan Bay,” Mr Fan said.
The lakefront shack is currently used for holiday accommodation. Picture: realestate.com.au
There are no jetties or boat ramps yet, but Mr Fan said that could easily change. “There’s most definitely potential to build,” he said.
Above water, bluestone pillars and wrought iron gates lead buyers to the a circular driveway and welcoming verandah.
The three-bedroom weatherboard cottage delivers wraparound 360-degree bay views alongside polished hardwood floors, an updated bathroom, separate study and open-plan living.
Water views from the bedroom. Picture: realestate.com.au
The expansive property invites outdoor living, with a fire pit and woodfired pizza oven, plus shed with secure two-car garage alongside workshop and storage areas. A cute cubby house is also tucked among the trees for good measure.
“It’s such a big chunk of land. You could play footy with your mates, build a tennis court … There’s so many things you could do. There’s so much potential there,” Mr Fan said.
There's a charming three-bedroom weatherboard cottage on the property. Picture: realestate.com.au
The current owners have held the property for just over four years, running it purely as a holiday rental - something Mr Fan says could easily continue under new owners. Unless, of course, they’d rather live on the property themselves.
“There’s potential for an investor to rent it out or run it as a B&B. Or it could be perfect for someone just wanting to escape the city; when you have a busy life, you just want somewhere quiet. And this is the perfect spot.”
The unique property is listed for sale for $3.3m - $3.63m. Picture: realestate.com.au
The charming seaside town of Queenscliff is less than a 10-minute drive away, with boutique shopping and dining as well as tourist attractions including Fort Queenscliff, the maritime museum, heritage steam railway, dolphin and seal swimming tours, and a ferry to the Mornington Peninsula.
The home is neat and tidy, but there's plenty of scope for upgrades. Picture: realestate.com.au
The property is less than an hour away from Geelong.
Half underwater but fully loaded with possibility; this Swan Bay shack might just be the most unusual waterfront buy on the Bellarine Peninsula right now.
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