Create your own sanctuary on this Mornington Peninsula island

A private island off the Mornington Peninsula coast could make life a beach for a buyer who seas-es the opportunity at auction this month. 

Parties from Melbourne, New South Wales, Tasmania and overseas are eyeing Sandstone Island, which has the potential to hook a multimillion-dollar sum.

Ray White Rural Victoria director Jason Hellyer says the 22.25ha “blank canvas” offered a raft of possibilities in the agriculture, commercial and tourism spaces, but could also be transformed into a “wonderful weekend retreat”.

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Hellyer says the rare property has been difficult to price, but buyer feedback has ranged from “above $3 million” through to the $5 million mark.

The island is uninhabited, but features a dilapidated house.

The uninhabited island is about 600m off the coast of the Mornington Peninsula, 1km from Hastings and 80km from the CBD, and is only accessible via private boat or helicopter.

It was first settled in 1854 by the Rogers family, who ran a small cattle breeding program on it, and was later used to farm potatoes.

The island is only accessible via private boat or helicopter, but it’s not far from the mainland.

Hellyer says the property is being sold by a consortium of five Melbourne-based families, who bought it as an investment in the late ‘90s and have enjoyed it as a weekend getaway.

It features a “once-grand” two-storey red cedar house that’s fallen into disrepair, two private beaches, absolute water frontage around the island’s 1.9km circumference and a mooring site for watercraft.

Hellyer says “a whole host of people from different sectors” have expressed interest in the offering, from restaurateurs considering a paddock-to-plate setup through to a power company that has inquired about setting up a demonstration site for “solar and other methods of power generation”.

Ever wanted to get away from it all?

It was also listed for sale in 2015 for $5 million.

Another Western Port Bay isle — the 26.1ha Elizabeth Island — came back on to the market earlier this year. But the listing, which most recently displayed a $6.95 million asking price, was recently taken down.

Sandstone Island is due to be auctioned at midday on November 21 at a Ray White Corporate Victoria office at HWT Tower, Southbank.

This article from the Herald Sun originally appeared as “Sandstone Island for sale off the Mornington Peninsula coast”.