Te Kouma’s famous “pink bach” is the first property to come up for sale in a coveted waterfront spot in the Coromandel in a decade.
The quintessential two-bedroom property at 345 Te Kouma Road, near Coromandel Town, is set on a large 5148sqm section and will transport the new owners back to their childhood holidays with its retro feel complete with bright chequered tiles and blue walls.
Richardson’s Real Estate salesperson Kim Radick is unsure of the property’s age because it pre-dates council’s records, but said it was an absolute classic split over two titles.
“It will make people smile. You will look at it and go, ‘oh my goodness, that’s cool’. That’s what it’s all about – that nostalgia, for want of a better term, of remembering the Kiwi baches.”
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The bach has been in the same family for 62 years and is commonly known as the pink bach by locals because it has been that colour for as long as they can remember.
While the property has a quirky charm, Radick expects its “absolutely phenomenal” location – at the far end of the bay surrounded by bush and just across the road from the popular boating and safe swimming beach – will be the major drawcard.
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“Location, location – that's what it comes down to at the end of the day. That’s where the dollars are going to be.”
The bach sits about a third of the way up the section in an elevated position with stunning northerly views over the Coromandel and out to the Hauraki Gulf, Whanganui Island and the nearby Hannaford’s jetty.
The property offers potential for redevelopment, but Radick thinks the next owner may just want to use it as a family holiday home initially.
The last open market sale in Te Kouma’s tightly-held waterfront location, known as Heards Bay, was in November 2013 when a property sold for $925,000.
The kitchen has original retro tiles. Photo / Supplied
The bach is only one of eight properties in the tightly-held bay and is split over two titles. Photo / Supplied
“Te Kouma speaks for itself. People know it. It’s very, very popular with the boating fraternity from Auckland.”
Radick said it was too early to give a price indication for the property that is being sold by deadline next month, adding it would be significantly higher than the outdated RV of $740,000.
“Most properties aren’t selling for anywhere near their lower RVs now.”
The most comparable sale in the area was a largely original 1970s waterfront bach on Wyuna Bay, which has an RV of $1 million, that sold in September last year for $1.815m after multiple offers were made.
A waterfront property on Wyuna Bay sold for $1.815m last year. Photo / Supplied
“That was phenomenal and blew everyone away.”
Away from the water, a large four-bedroom, three-bathroom home at 84 Kowhai Drive in Te Kouma with views over the Coromandel Harbour is being sold by Trinity Network with an asking price $1.45m. The property last changed hands in November 2020 for $1m, OneRoof property records show.
A 1970s two-bedroom do-up 260 Wyuna Bay Road is also on the market with an asking price of $745,000.
A 1970s bach at 260 Wyuna Bay Road has an asking price of $745,000. Photo / Supplied
The Wyuna Bay Road bach has the original wallpaper in the bathroom and kitchen. Photo / Supplied
Harcourts listing agent Caro Reid said people were looking at the property as both a permanent residence or holiday home and while some had commented they would only replace the carpet, others were planning a full renovation.
Retro properties usually had long-time owners with interesting stories to tell and the current property was no exception, she said.
The owner, now in her 80s, was a well-known personality in Coromandel Town and had been good friends with well-known potter and founder of Driving Creek Railway Barry Brickell. She had also run the local budget advisory using her car as an office when there wasn't an office in the town.
“People with colourful personalities have always been attracted to this area and it definitely shows in some of the properties.”
Reid is also selling a modern artist's retreat at 40 Victoria Street in Coromandel Town that was designed by the artist owner and her architect ex-husband to have an art studio at the centre of the home for when creativity sparks.
Meanwhile, a rare 1179sqm site on Thames Coast Road that was thought to be the last beachside section in Te Mata sold for $820,000 at a competitive Harcourts Gold auction in January.
The property, which has an RV of $475,000, attracted 10 registered bidders and a total of 34 bids before selling under the hammer.
Prices on the western side of the Coromandel still appear affordable compared to other areas in the peninsula such as Whangamata and Pauanui where the records have both been broken in the last year for $7.41m and $6.1m respectively.
Reid said there has been an increase in the number of buyers looking in or around Coromandel Town because they realise it is a special place with its bays and bushy hills. The area had also no significant damage from Cyclone Gabrielle and the roads to both Whitianga and Thames had re-opened relatively quickly, she added.
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