Four prestige homes owned by Northland’s Carrington Estate golf course sold under the hammer yesterday for a total of $2.83 million.
That’s a win for the owners, who could have ended with just $4 after setting a $1 reserve for each of the four homes, which had languished mostly unused since they were built eight years ago.
The bids at Ray White Kaitaia’s auction came fast and furious, with auctioneer Gary Steed bringing the hammer down quickly. Three of the four buyers had not even visited the properties.
Ray White agent Hania Johnson told OneRoof: “We had 40 registered bidders, most of whom had registered to bid on all four properties.
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“They were pretty much all investors, people who were looking at a family holiday home that they could also rent out as an Airbnb. People knew they were getting an amazing deal, but they had to be cash-unconditional to buy on the day.”
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The first property sold for $655,000, the second for $695,000, the third for $730,000, and the fourth for $750,000.
The successful buyers were bidding on the phone, not in person, Johnson said, although a crowd filled Kaitaia’s Te Ahu cinema where the auction was held.
Johnson was exhausted after the sale – “I feel like I’ve run a marathon” – but she may have more work in store, telling OneRoof the vendor had a handful of other properties left in their portfolio which they may bring to market.
The four properties sold yesterday were in a partially completed subdivision on the Karikari Peninsula between the Carrington Estate golf resort and the beach town of Whatuwhiwhi (where the owners of Carrington also own the Top Ten holiday park).
Inside the packed auction room. Photo / Supplied
Two of the properties, including this one, have sea views above Whatuwhiwhi. Photo / Supplied
Carrington’s general manager William Tan told OneRoof he was pleased with the $2.83m total. “We weren’t really expecting anything, and it was interesting that two of the same houses were $100,000 apart,” he said, adding he had no idea why the difference.
“Everyone got a good bargain, particularly when you look at the cost of building back when they were done. In the last four weeks we didn’t know what people’s ideas on price were.
“It shows where the market is today. They all went for below CV, but that’s been the case for months.”
- Click here to find more properties for sale in Northland
