A landmark luxury Lake Wendouree home has hit the market again, this time with a multi-million dollar price slash.
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The property at 309 Wendouree Parade, Lake Wendouree, was listed for sale in November at a price range of $5.7 million to $5.95 million.
It is now relisted, from July, through another Ballarat agent at a reduced price range of $4.45 million to $4.6 million.
Records show it last sold in October 2014 for $2.7 million after sitting on the market for 559 days.
The owners are selling the luxurious property to relocate to the Gold Coast, Queensland.
Agent Damian Caine, of Caine Property, said there were four interested parties from the Ballarat district and he was confident the property would sell at the asking price.
"We've had good discussions with the owner about the current market and how it is performing and we've arrived at what we think is a fair price and I think that probably reflects the fact there has been reasonable interest of a genuine nature," Mr Caine said.
![The balcony, at 309 Wendouree Parade, overlooks Lake Wendouree. Picture supplied. The balcony, at 309 Wendouree Parade, overlooks Lake Wendouree. Picture supplied.](/images/transform/v1/crop/frm/HGEQmb32Jrb7fFYffAPJvy/7f190811-6b45-4e41-9e77-4b4124f61eeb.jpg/r0_280_5472_3369_w1200_h678_fmax.jpg)
He said while there had been an influx of Melbourne buyers in Ballarat, in his experience, Ballarat residents tended to buy upper-end properties in their hometown.
"I find that the Melbourne buyers tend to buy more of the middle-range properties and the upper-end properties generally sell to locals because locals know the areas, know the general values and are more comfortable in paying, particularly in this sort of higher-end market," Mr Caine said.
"They're very comfortable if they know the area, they know the street, they probably know half a dozen sales that have happened around a property and understand why it's been priced in such a way."
Multi-award winner Paul Clout designed the two-storey home, which overlooks Lake Wendouree near the end of the rowing course, and it was built in 2009.
It includes five bedrooms, four bathrooms and several living areas across a land size of 1124 square metres. The home has a swimming pool, quality appliances and features, wine cellar, cinema and outdoor undercover area.
"It's a beautiful house. It's been built to a very high standard. Virtually all the flooring through the living areas, the traffic areas and outdoor areas have all been fitted with Italian marble. It's got high ceilings and floor heating," Mr Caine said.
"It's got everything you could imagine a luxury high-end home should have."
IN OTHER NEWS:
The property sits amongst other exclusive homes on the dress circle Wendouree Parade.
The strip holds the record for the suburb's most expensive home, a five-bedroom luxury home also designed by Paul Clout at 454 Wendouree Parade, which sold for a massive $8.25 million in 2021.
In 2022 meanwhile a modern masterpiece at 221 Wendouree Parade, was snapped up for $4.8 million.
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