A vacant piece of waterfront land in New Zealand’s most expensive suburbs is up for grabs.
The 956sqm freehold site at 320 Jervois Road, in Herne Bay, Auckland, has served as a private path to the beach for the owners of the four-bedroom bungalow that sits above it.
The property, which has a 2017 rating valuation of $3.075 million, is being marketed by Boulgaris Realty agents Michael Boulgaris and Michael Greer and will be sold by tender on June 23.
“It’s not a development site for three or four townhouses. It will be [bought by] an owner-occupied or residential developer who wants to put something spectacular there," says Greer.
Start your property search
The current owners have held the site for 50 years.
The CV of an empty Herne Bay site is $3.075million as of 2017. Photo/ Supplied
“The value is about $5000 per square metre but with tender, the market will tell us how it sees it," says Greer.
"But Herne Bay was the first $2m suburb, it's a premium area."
The zoning of the beachside site allows for only one dwelling with possibilities to create a signature home, Greer says.
“Whatever you build there, you’re going to add value to it immediately."
Elevated views of the ocean were the selling point for the property with sites on such slopes being popular in Wellington and Waiheke Island, Greer adds.
8 Herne Bay Road do-up on a large site has a rating valuation of $3.5million is listed for sale. Photo / Supplied
Buyers who have an appetite for a big build will also be eyeing another investment opportunity up the road: a do-up at 8 Herne Bay Road.
The villa, which was extensively modified in mid-century style, now needs TLC. It is on a large 1151sqm site and has a rating valuation of $3.5m. The council puts the improvement value of the dwelling at only $150,000.
Ray White agents Jen George and Aaron Haabjoern, who are marketing the property as ‘the ultimate project’, say it’s been in the same family for 40 years.
The 245sqm four-bedroom and two-bathroom property will be sold via tender on June 3, unless sold prior.
