- Receivership sale of 1.1ha Waiheke headland offers buyers the chance to buy waterfront property for $830,000.
- Development remains possible, but coastal hazards, landslide risks, archaeology, and difficult access create major consenting hurdles.
- The property is next to some of Waiheke’s most expensive estates, including one that’s on the market for over $17m.
A chunk of waterfront land on Waiheke, next to some of the island’s most expensive properties, is up for grabs for just $830,000 – with a twist.
Start your property search
Those interested in buying the 1.1ha headland, which is being sold by the receiver, may need deep pockets if they plan to develop the property.
The listing for 27 and 31 Hunterville Road describes the property as “a private peninsula on the tranquil shores of Waiheke Island”.
“Positioned at the peaceful eastern end of the island in tightly held Orapiu”, it is a “rare opportunity where vision, privacy, and natural beauty converge”.
“The property enjoys breathtaking 180-degree ocean views, framed by expansive sea vistas and surrounded by established native bush.”
The 1.11ha property is located in the tightly held suburb of Orapiu and offers “breathtaking” ocean views. Photo / Supplied
The property is split over titles and is zoned Bush Residential. Photo / Supplied
New Zealand Sotheby’s International Realty listing agent Cathy Cameron declined to comment on the sale but said in her marketing that “planning consultants are available to assist with understanding development potential, consenting pathways, and future design considerations”.
Pointing to the eventual rewards a buyer could reap if they built a home on the headland is the fact that the property is close to some of the island’s most expensive and luxurious properties, including one that’s on the market with price expectations of more than $17 million.
27 and 31 Hunterville Road is zoned Bush Residential, which, while allowing residential development, is intended to preserve the natural landscape character that distinguishes much of Waiheke Island.
Discover more:
- How a caveat derailed the $24m sale of Sir John Key’s former home
- Abandoned rural school that costs taxpayers $25,000 a year up for grabs
- European family on holiday in NZ pays $11.5m for clifftop homes
A planning review by Isle Land Planning in February identified multiple issues that would need to be addressed before any development could proceed at the property.
According to the report, the sites are subject to several overlays and hazard areas, including coastal inundation risk affecting lower slopes and cliff faces. Areas of the properties were susceptible to coastal instability. The sites are also subject to a newly identified shallow landslide susceptibility overlay, soil warning overlays, and a high-use aquifer management area.
As a result, any proposal for new buildings would require geotechnical assessments and engineering input, including investigations into slope stability and landslide risk.
Omaru Bay Lodge at 729 Orapiu Road, Waiheke, is on the market, looking for buyers with $17.5m to spend. Photo / Supplied
The report added that development would require a specialist archaeological assessment and consultation with mana whenua. Development could still occur, but buildings and infrastructure would need to be carefully sited to avoid damaging historic features, and standard protocols would apply if archaeological material was uncovered during construction.
The property also has significant access issues, with access currently via an unformed legal road and public reserve strip known as Hunterville Reserve. Any consent application would need to address vehicle access arrangements, and Auckland Council landowner approval would likely be required for works affecting the reserve. Any vegetation affected by access works could trigger additional reporting and approvals.
The property is owned by SDY Equity Holdings Ltd, which is headed by developer Scott Yearbury. The company was placed into receivership by Mayfair Finance Ltd, which holds a caveat over the land. The receivers’ report also notes that ASB Bank hold a mortgage over the property.
The receivers have already sold two other island properties linked to Yearbury: a two-bedroom home on Jellicoe Parade, in Surfdale, for $1.02m; and a one-bedroom retreat on Belle Terrace, for $1.29m.
- 27 and 31 Hunterville Road, Orapiu, Waiheke Island, is for sale for $830,000
