A parcel of surplus land being sold by Fingal Bay Sports and Recreation Club has attracted good developer interest, according to Colliers International's Peter Macadam.
He is marketing Lot 2 Rocky Point Road, Fingal Bay through an expressions of interest campaign, closing June 4, with price expectations above $3 million.
The vacant land is 5316 square metres in size and provides a gently sloping development site, adjacent to the Fingal Bay Sports and Recreation Club.
It is located within an established coastal residential area with a frontage to Rocky Point Road of around 41 metres and the potential of ocean views from the upper levels of any proposed development.
Mr Macadam said the development suits a retirement or medical centre outcome given the demographics of the area, with 46.2 per cent of the population aged 55 years and over and a median age of 52 years.
"It is really well suited to retirement developers, predominantly because of the location and also the demographic of the Tomaree Peninsula," Mr Macadam said.
"There's been good enquiry and predominant interest has been in that sector."
The property is around 680 metres from Marine Drive, which links Fingal Bay with neighbouring suburbs Shoal Bay and Nelson Bay.