A renovated villa on Auckland's North Shore sold under the hammer on Sunday for $3.005 million a week after its first open home.
The four-bedroom property on Stafford Road, Northcote Point, listed by Harcourts agents Dianne and Daniel Lundquist, had its first open home on November 25, but a pre-auction offer in the first week pulled the auction forward to the following Sunday.
The sale price was $805,000 over its CV.
“We had five people at the auction after eight days. On the first weekend, we had 25 groups look at the property plus another 10 through the week,” Dianne Lundquist told OneRoof.
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“It basically ticked all the boxes with regards to location, size, sitting the right way for the sun, the character. It all came to fruition on the Friday morning, as we had an overseas owner who we were negotiating with, so we had to wait 12 hours so he could wake up and then he had 12 hours to make up his mind. It was a series of negotiations.
“The [buyers] are looking at very little stock on the market, because if they’re wanting Northcote Point, it’s only a small catchment and properties like this don’t come on the market very often.
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“The buyers had missed out on four other properties over three years. They were quite specific on what they wanted,” she said, adding that bringing their pre-auction offer past $3m put the other four bidders out of contention. OneRoof records show the property last changed hands 18 years ago for $930,000.
“The other four bidders were probably seeing [value] between $2.8 to $2.9m. The buyers used a good tactic, coming in with a lower offer and then we negotiated them up to that level.”
The renovated villa on Stafford Road, Northcote Point, had a large backyard and met the checklist of things buyers want in the suburb. Photo / Supplied
Lundquist said buyers were drawn to the size of the property, a two-storey 260sqm house with multiple living areas on a 723sqm section and plenty of indoor-outdoor living in the flat north-facing backyard. It had been renovated first in 1998, she said, with the more recent owner updating the kitchen around 2007.
She said that character villa buyers who were prepared to take on a do-up had only one other listing option in the area, a five-bedroom original condition villa on 5 Queens Street, just up from the ferry terminal.
The double-bay villa on a 509sqm site overlooking the water, marketed by Harcourts agents Ash Patel and Ange Bloomfield, has original features, a 1970s-style cottage kitchen with an aluminium conservatory, and is being billed as full of potential with scope to restore the “majestic piece of history”.
It has a CV of $2.55m and is being sold for price by negotiation.
Harcourts agent Brooke Barrass, who with Jordan Selwyn brought their buyer to the property, told OneRoof that the time frame blew everyone away.
“It was a great price and great timing. Our buyers knew what they wanted and saw so much potential,” she said.
A five-bedroom villa on a 809sqm site at 5 Queen Street, just up from the ferry terminal, is one of the few villas on the market in the tightly held suburb. Photo / Supplied
“They’d been looking a while, they knew exactly what they wanted and are very familiar with Northcote Point.”
The price wasn’t the top this year for the neighbourhood as Barrass and Selwyn sold a beautifully renovated villa on a nearby street in an off-market deal recently for $3.5m.
“There is no stock, so when we know exactly what the buyer wants, we let them know. We know the buyers, we know the vendors, we can just team them up, “ Barrass said.
“That’s why there have only been these two sales over $3m on the point. There are quite a few houses that are beautiful and worth quite a bit, but they’re just not on the market,” she said, adding that many of the buyers were looking in the suburb, the closest to the Harbour Bridge, from the city side.
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