Property | Bluestone Lake waterfront estate's first million-dollar-plus sale, all blocks sold

A development application has also been approved for a final eight more blocks to be developed with the first of these homes expected on the market by Christmas.

The Bluestone Lake Estate is on Cedar Street, on the shores of the former quarry used to mine stone for Orange streets and houses last century.

Many of the 18 blocks fronting the lake have sold to families attracted by being able to access the lake's exclusive facilities including kayaking, fishing, a lake walk and a beach area at the only waterfront estate in Orange.

Fitzgerald Estate Agents director Josh Fitzgerald has just sold the first home in the estate, a four-bedroom, two bathroom property, for $1.15 million.

Mr Fitzgerald said there had been strong interest from potential buyers.

"Definitely, we had over 40 groups through that property," he said.

"A local family has bought it.

"You're getting a completely different lifestyle there."

He said homeowners had exclusive access to a ramp and jetty for unpowered craft, the lake has been stocked with cod and perch for fishing and there was a lake walk and a beach area.

Mr Fitzgerald said all 18 blocks fronting the lake had been sold with three homes occupied and two more under construction.

Orange City Council records show eight development applications to construct homes on Cedar Street have been approved.

The developments have build estimates valued at up to $1.2 million.

One Agency Orange licensee Ash Brown sold the blocks of land, which range between 750-1000 square metres in size, for $280,000-$330,000.

"I don't know of anywhere else in Orange with a waterfront view," he said.

Mr Brown said a final subdivision of eight blocks of land on the opposite side of Cedar Street had been approved for development.

He said "high-end townhouses, very stylish townhouses" would be built on the blocks.

Mr Brown said it was expected the first would be available for sale by Christmas.

He said the price had not yet been determined.

LOCATION: BLUESTONE LAKE ESTATE

Mr Brown said it was proposed the other seven would be of a similar style and appearance and the buyers would add their own level of fittings inside.

He said while these eight blocks would not have lake frontage the owners would have access to the lake and its facilities.

Mr Brown said the entire estate would not be gated but the owners would have exclusive access to the lake.

He said there would be no public access to the lake.

The quarry closed in 1977.