- A 103ha beachfront property in Ōtama Bay is for sale below its $9 million RV.
- Bayleys agent Josh Smith says the property offers potential for a luxury home, lodge, or campground.
- The farming family is selling to support future generations.
Almost half a bay overlooking what is thought to be one of the country’s best beaches is for sale for well below its RV of $9m.
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The 103ha beachfront property at 550 Black Jack Road, in Ōtama Bay, is close to the luxury baches owned by rich listers and celebrities just over the hill at Opito Bay.
The farming family selling it owns several properties in the area and has decided to cash in after 60 years.
The farm block takes up a large part of the bay and overlooks one of New Zealand's most pristine beaches. Photo / Supplied
Bayleys listing agent Josh Smith told OneRoof that the property was probably the largest piece of land of this scale and contour to come to the market on the eastern seaboard in at least two decades. The only buildings currently on it are hay barns and a gravel road is the only thing separating it and the beach.
Smith said the vendors' price expectation were well below the RV. “There’s a bargain to be had, with the family looking to release some capital so they can support the kids and the grandkids and their ventures going forward.”
He said the bay was the perfect location for a luxury home or lodge, noting that some of country’s wealthiest Kiwis had homes nearby.
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“It’s the elite of the elite of New Zealand who go there for the privacy and the pristine," he said.
“It’s one of the biggest chunks of dirt you could buy to build an exclusive house, have your fly-in fly-out helicopter. You could put a nine-hole golf course there.”
Alternatively, it could become the "most spectacular campground", Smith said. A company with “deep pockets” could set it up as a luxury lodge for wealthy guests who want to be metres from a beautiful white-sand beach with great surfing.
Phantom of the Opera star Michael Crawford is one one of the celebs who has bought in nearby Opito Bay. Photo / Getty Images
“It’s the guys who can come in and fund a Kauri Cliffs [lodge and golf course],” he said.
Smith estimated there were about 200 properties in Opito Bay, while the more exclusive Ōtama Bay only had about 20 along its 2km stretch of protected coastline.
“It’s exclusive in every way, but it’s almost surrounded by like-minded people who have got baches there.”
Celebrity homeowners at Opito Bay have included Phantom of the Opera star Michael Crawford.
Smith said Opito Bay was arguably the more accessible beach for boating, but Ōtama Bay was more naturally beautiful. “Ōtama is more of a private sanctuary where you go down there and walk your dogs and go for a swim and you are not going to be surrounded by boats and people."
“It’s spectacular – Ōtama Bay in the middle of summer is still one of the most untouched pieces of dirt or beaches on the Coromandel.”
- 550 Black Jack Road, Ōtama Bay, Coromandel, is for sale, tender closing December 12
