PHOTO: Gerry Harvey & CEO and wife of Gerry Harvey, Katie Page

Harvey Norman chairman Gerry Harvey has set a new property price record for a small town on NSW’s south coast, snapping up a piece of prime, waterfront real estate.

Gerry Harvey

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Mr Harvey purchased the Black Bream Point property at Narooma, which features eight guest cottages, an owners residence and a private jetty and boat ramp.

The property is set on 40 acres and is located right on the Wagonga Inlet.

Selling agent David Nolan said it is the highest priced sale to ever occur in Narooma and surrounding districts.

The eventual sale price has not been disclosed, but the indicated pre-sale price ranged from $9 million to $11 million.

Black Bream Point property at Narooma. Picture: Webster Nolan Real Estate

Black Bream Point property at Narooma. Picture: Webster Nolan Real Estate

The property was bought by Harvey Norman executive chairman Gerry Harvey. Picture Glenn Hampson

The property was bought by Harvey Norman executive chairman Gerry Harvey. Picture Glenn Hampson

A marketing campaign for the south coast property generated more than 700 inquiries and resulted in a “substantial” number of inspections.

Expression of interest for the property closed on January 31, with the sale to Mr Harvey being finalised on February 4.

Mr Nolan said Mr Harvey and his family intended to continue the property in its current format and are advertising for an on-site manager.

Black Bream Point’s previous owner, Matt Davey, owned the property for 21 years before deciding to sell.

The property boasts a private jetty and eight guest cottages. Picture: Webster Nolan Real Estate

The property boasts a private jetty and eight guest cottages. Picture: Webster Nolan Real Estate

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