- A Point Chevalier beachfront home listed near $5.5 million has sold for an undisclosed price.
- The property last sold for $300,000 in 1988, then a high price for the suburb.
- Taika Waititi and Rita Ora’s $10.5 million purchase has boosted Point Chevalier’s profile.
A beachfront home bought for just $300,000 nearly four decades ago has sold after hitting the market with a price tag approaching $5.5 million.
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The Point Chevalier original changed hands last month, snapped up by an Auckland family searching for their dream waterfront home.
New Zealand Sotheby's International Realty agent Pene Milne, who brokered the deal, declined to reveal the sale price but told OneRoof the property had struck a chord with buyers.
"When people saw it, they all saw the possibility. They loved what it had," she said.
"The double-width [1661sqm] site and the beach were pretty special. There's the swing hanging off the tree down there over the sand; it really evokes a sense of family on the shore there.
"It's going to be an enduring family home. The [buyers'] dream was to have that lifestyle on the water's edge. To launch a kayak or windsurf from that lawn is pretty special."
The private beach at the bottom of the section on St Michaels Avenue is a rare draw in Auckland. Photo / Supplied
The sellers' family bought the house in 1988 for $300,000. Photo / Supplied
Milne took the 1920s four-bedroom home on Saint Michaels Avenue to market in November last year. Her advertising characterised the property as a blank canvas.
The vendors told OneRoof at the time that their father grew up in Point Chevalier and had jumped at the chance to buy the property when it came up for sale.
“As a child Dad spent a lot of time with family friends at St Michaels Avenue, swimming, sailing, and fishing. It was a secret seaside spot many Aucklanders are still unaware of.”
According to OneRoof data, the property last changed hands in 1988 for $300,000 - a high price for the suburb at the time.
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“Dad lived here for most of his life and still absolutely loves it. To have all this land and a private beach just 10 minutes from the city is something truly remarkable.”
Milne said there were parallels between St Michaels Avenue and Westmere's desirable Rawene Avenue, the waterfront strip that's home to rich-lister Anna Mowbray and her husband, former All Black Ali Williams, and several $20m-plus sales.
She noted that prices in Rawene Avenue began to shoot up in the early 2000s when buyers realised what the street had to offer.
As recently as last year, an unrenovated brick and tile 1950s place on the water fetched $8.6m, well over its $6m RV.
Director Taika Waititi and his wife, singer Rita Ora, won a house in the neighbourhood. Photo / Getty Images
"20 years ago, in Westmere it was just the beginning," Milne said.
The celebrity move to Point Chevalier was led three years ago by Oscar-winning director Taika Waititi and musician Rita Ora, who splashed $10.5m on a four-bedroom clifftop home.
Industry insiders said that Waititi was not interested in the usual blue-chip suburbs of Herne Bay or Remuera, choosing instead a stylishly renovated home in the former working-class suburb.
"Point Chev is the next extension [from Rawene Avenue]. You have your own little beach, very easy access. In fact, its access to the water is significantly easier than both Westmere and Herne Bay, but at a fraction of the price," Milne said.
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