- A 1600sqm section on Mount Maunganui’s Oceanbeach Road sold for the first time in 60 years.
- The land, with an RV of $8.58m, attracted interest from local and international buyers.
- Bayleys agent Sharon Hall said most buyers aimed to build dream beach homes on the rare site.
An empty strip of land facing the beach on Tauranga’s Mount Maunganui millionaire mile has changed hands for the first time in 60 years.
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The almost 1600sqm section on Oceanbeach Road sold at the end of last month for an undisclosed amount.
It was bought by the vendor’s husband for £4000, back when it was home to a classic bach, and had an RV of $8.58 million.
Bayleys agent Sharon Hall, who brokered the deal with colleague Linda Greenslade, said buyers approached her as soon as the property hit the market.
The elevated site on the beach at Oceanbeach Road attracted buyers from around the country and the world. Photo / Supplied
The rare site mostly attracted buyers who wanted to build their dream family home. Photo / Supplied
“There was a lot of enquiry with good interest, from locals, and from around New Zealand, Australia, and further abroad. Many of the overseas people had a connection to the Mount,” Hall told OneRoof.
“These people are pretty discerning; they know what they want. It is a rare site, and they just went ‘Wow’.”
Hall declined to say who the buyers were or how much they paid, telling OneRoof they were “super private”.
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Most of those who had expressed interest were looking to build their dream beach home on the section, adding that she had received multiple offers.
“The timing was right for them. When they find the right property, that brings them out.”
Hall told OneRoof in June that the property was zoned medium-density residential, and unlike some beachfront sections, did not come with covenants.
Hall said the owner had been a train driver from central North Island, who spotted the land as he travelled up and down the country.
A luxury home on Marine Parade sold in eight days for $7.65m. Photo / Supplied
A five-bedroom house with a pool on Oceanbeach Road, overlooking the golf course, was snapped up last month for nearly $5m – more than $1m above its RV. Photo / Supplied
“He did lots of overtime because he was a single man, so he worked really hard and put his money into property. He was very astute and saved all his pennies and dollars.”
The property is one of only a handful of vacant sections left in the wealthy beach suburb, and Hall’s marketing likened it to a “Goldie painting or a fine heirloom”.
The sale comes just days after OneRoof reported that a luxury home on nearby Marine Parade sold for $7.65m in just eight days.
Another of Hall’s listing on Oceanbeach Road, a smart five-bedroom house with a pool overlooking the golf course, was snapped up last month for nearly $5m – more than $1m above its RV.
“I could have sold at least eight of those,” Hall told OneRoof last week.
“There will never be enough of that stock, a full site, great amenities, they are hard to come by, and there’s very good demand for great properties in great locations.
“It is a beautiful family home, easy care, and you can walk to the golf course. A mix of people from the Waikato and Bay of Plenty were looking at that.”
Hall said that buyers’ budgets were at all sorts of levels, but she noted a particular lift in buyers with $3m or more to spend.
She added: “There will be a lot of interest for all sorts of reasons. There’s potential development, but also there are private people who want the land to build on.”
The sale price record for the Mount is held by an architecturally-designed house on Oceanbeach Road, which sold three years ago for $11m.
- Click here to find more properties for sale in Mount Maunganui
