Two neighbouring beach properties with a combined RV of $5.72 million are up for grabs in Whangamata. Together they represent the largest residential parcel of land put to market in the holiday town in four years.
105 Esplanade Drive, a four-bedroom Lockwood home built in 1977, and 304 Beverley Terrace, a vacant adjoining section, offers buyers the chance to pick up more than 1800sqm of prime real estate overlooking the beach.
The properties are owned by one family and can be bought individually or together.
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Whangamata Real Estate agent Sharon Laurenson said large parcels of land rarely came up for sale in the town because most of the original full sites had already been sold and subdivided over the years.
“This property combo reflects Whangamata of days gone by,” she told OneRoof.
The last big land sale in Whangamata was in October 2020, when the 1.66-hectare Whangamata Camping Ground, on Barbara Avenue, was sold to Whangamata Property Investments for $14.5m for a high-end housing development.
105 Esplanade Drive and 304 Beverley Terrace have been owned by the same family for the last 60 years.
The Beverley Terrace section, with its mature trees, had been sold once before, Laurenson said, but the owner regretted it so much they later bought it back.
The holiday home on Esplanade Drive is directly across the road from the beach and has elevated water views. Photo / Supplied
The owner told OneRoof when they first bought the property there was no road at the front and just sand dunes, so they had to access the house via the Beverley Terrace section.
The council later put in Esplanade Drive giving the property its own road access right across from the beach.
Under their ownership, three generations had holidayed in the prime spot just across for the beach where they could sit on the elevated deck and watch the surfers, swimmers and action from the surf club.
“Sitting on the deck watching the full moon rise up out of the ocean has always been a family favourite too,” the owner said.
While each of the properties had their own appeal, Laurenson said having the combined properties come up for sale at the same time had “created quite a buzz”.
The 1012sqm Beverley Terrace section that's also for sale. Photo / Supplied
Some were interested in using the large Lockwood home for family holidays, while the 1012sqm back section in the extra density zone provided a blank canvas for both developers and people wanting to build their dream home.
Laurenson said there continued to be strong demand for sections in Whangamata, especially those close to the beach.
“Some buy just to land-bank. Some want a flat easy access site for a relocatable home. Some want an entry-level shed and camping set-up. Those retiring like a full site so they can build a modern low-maintenance single-level dwelling, often wanting space to accommodate boat or campervan parking. Others want a premium site to develop.”
However, she said it was difficult to put a price on the properties due to there being so many variables such as whether they were bought together or separately and why.
“I think it’s best to let the market decide the value in this instance.”
Earlier this month an empty section close to the beach sold under the hammer for $2.2m.
The sale price for the 809sqm section on Barrowclough Road, in Whangamata, was below its RV of $2.8m.
Bayleys salesperson Dale Sholson, who sold the property, told OneRoof at the time that the section was unique in that it was close to the beach and had never been built on.
He said they were seeing some tightly-held and unique properties that had been owned by families for a long time suddenly hitting the market, and there was big demand for them.
“Whether they are absolutely pristine, large or have a big shed – whatever. Unique in some way.”
A few weeks earlier he had sold a tiny bach on a large section on Otahu Road for $1.675m, which was well above its RV of $1.03m.
He said a lot of the owners seemed to be land-banking in the first instance.
- 105 Esplanade Drive and 304 Beverley Terrace, in Whangamata, are for sale, with deadline closing April 4
