For sale: a time capsule built by a beach

Owners Gilbert and Mary Caruana purchased the land - a huge 2080sqm block running from the road all the way to the high water mark on the beach - in 1975 and put a basic brick Pittwater Constructions project home on it a year later.

The three-bedroom plus study house also has two living areas, a double garage, and wonderful views to sea.

Gilbert, an accountant for The Electricity Authority, died at the age of 62 in 1985. Mary lived alone in the house for three and a half decades, passing away last year, aged 95. The couple had no children and their nephew, Central Coast-based Don George is one of three executors of her will who are selling the home at auction on April 9.

"She loved that house," he said.

"She was a very independent woman.

"She'd spend hours in the kitchen or out on the balcony looking at the water, particularly watching the whales and the dolphins coming close to the shore, and all the colour in the water from the yachts racing past."

It is one of the few unrenovated houses in the street. The Caruana's relatives spent two months of weekends getting the dual level home ready for sale, and Mr George said nothing had been changed in 46 years.

"It would be the closest thing I've seen to a house in its original condition," he said.

"Not one thing was done to it, it still has its original kitchen and bathrooms, she never felt that need to do anything.

"Even the TVs were ancient - they should have gone to a 1950s film set."

Agent Andrew Lutze, from Cunninghams, said it was a rare absolute beachfront block

"I know it sounds cliched but this is the definition of unlimited potential," he said.

"The mind boggles as to what you can do with it. Really, there are not many properties I know that have access to the high water mark, which is on title. And Bungan Beach is a secluded beach in the northern beaches that few people know about - but the locals know how special it is. You really have access to this lifestyle.

"It's a once in a generation opportunity and it has unlimited potential for what it can be."

He said the home had generated local and interstate interest, as well as inquiries from Hong Kong and Singapore.

"The majority of buyers coming through all have different ideas," he said. "It has been such a fascinating campaign but we probably won't know who our key buyers are until auction, because what they want to do later will impact the price they are prepared to pay. Everyone who wants to buy the property needs to have vision; because you would need to upgrade the facilities."

Mr George is hoping someone will fall in love with the spot. "It's a prized block, it's a huge block of land," he said. "You don't find them like that anymore."

The location is tightly held. The most recent nearby sales were 168A ($5.651m) and 198 ($4.5m) Barrenjoey Road two years ago. In 2017, 172 sold for $5.45m and 190 sold for $5m in 2015.

But Mr Lutze said it was difficult to compare this property to other local sales. "None of them have direct waterfront and none of them are over 2000 square metres. The sellers will be creating their own market. This is going to be one of those beautiful opportunities where we get to see what they do with it."

He is advising a price guide of $5.25 million.

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