Trophy homes in the Bay of Plenty rarely come up for sale on the open market. When they do, their vendors are happy to play the long game to get the right buyer and price, agents have told OneRoof.
One such home is SkyView, an award-winning spread on Nga Parae Road, in Oropi, which has just hit the market with an asking price of $15.25 million. It is one of almost half a dozen residences for sale on OneRoof with search or asking price of $5 million or more.
The six-bedroom property was built by Shaw Builders and is located in the Oropi Hills, above Tauranga. The listing promises “ultimate privacy and security” and highlights a large swimming pool, lush sub-tropical gardens, a truffière and native bush and stream with custom mountain biking trails spread over 12 hectares.
Listing agent Ben Hawan, from Oliver Road Real Estate, said properties in the top price bracket didn’t often come up for sale in the Bay of Plenty, but that didn’t mean they weren’t there, just hidden around the region.
Start your property search
“Their existence is not alien to the region. The builders/owners/buyers of such homes are motivated primarily by privacy and lifestyle so it is rare for the public or the market to be aware of their presence.”
Even the two properties Oliver Road is currently selling have had their addresses withheld.
Discover more:
- Tux Wonder Dogs host Mark Leishman selling his country home
- Prestige golf resort selling off four luxury homes with $1 reserves
- Artist bought quirky crib for $69,000 after spotting it in newspaper ad
Hawan said it’s that privacy and outlook that helped these houses achieve impressive prices, adding that their owners sold for the same reasons as anyone else – to downsize, to relocate or even to start a new project.
However, he said such vendors were well aware their properties could take longer to sell and often entered into agreements with agents knowing that they might be working together for 12 months or more to find the right buyer.
This has been the case for a four-bedroom, four-bathroom property on Pahoia Peninsula, in Whakamarama, which was listed in November last year and was still waiting for a buyer with $15.5m to splurge.
The modern property, which was designed by Noel Jessop and built by D&B Construction, collected multiple awards in 2019.
The 800sqm home on Nga Parae Road, in Oropi, has been furnished with luxury fittings and fixtures including high-end imported materials. Photo / Supplied
Hawan said it would be reasonable to assume that buyers for those two spectacular homes would be alike in many ways as both would suit high net worth individuals who valued privacy, loved exceptional architecture and desired a connection with nature.
However, he said the ultimate buyer for Pahoia Peninsula would be looking for a view of the sea and direct access to the private beach below, while the Oropi buyer would be chasing a larger footprint and see value in being that much closer to the city.
Hawan said most of the interest for these houses came from overseas, particularly from Australia, Singapore and Switzerland.
The European buyers were looking at moving to the Bay of Plenty permanently, while those in Australia would split their time between the two countries.
There was less inquiry from within New Zealand, but those who showed interest were “remarkably local”, he added.
An award-winning home on Pahoia Peninsula with panoramic sea views has an asking price of $15.5m. Photo / Supplied. Photo / Supplied
Ray White agent Ross Hawkins is also selling a large mansion on the Pahoia Peninsula. It has been on the market since last year and the vendors recently dropped their asking price from $20m to $18.5m.
Hawkins said the property was now realistically priced and the vendors had adjusted their expectations in line with buyer feedback and current market conditions.
The listing for the architecturally designed five-bedroom, four-bathroom home at 340H Pahoia Road describes it as a “coveted private retreat inspired by world-class luxury and modernist architecture” located “in a piece of private paradise”.
Hawkins said the people who built dream homes of this caliber were generally successful. “Nothing comes cheap in a high-end build,” he said.
“This property has so much to offer and will never be repeated anywhere near this price level as the house alone has been estimated at circa $28 to $30m alone to build today.”
A private retreat at 340H Pahoia Peninsula has dropped in price from $20m to $18.5m. Photo / Supplied
Standout features included a thermally heated in-ground swimming pool, cedar hot tub, all-weather tennis court with a Paul Dibble-commissioned water fountain, multi-level astro-turf putting green, and a bunkhouse and natural hot spring pool and soak pool at the water’s edge.
“Helicopter access makes it easy for high net worth clientele to access and with everything the property has makes it perfect for extended families and entertaining for large groups of friends and business associates.”
While a far cry from the $15m-plus price tags, Bayleys has several properties around $5m and over which it believes would appeal to high net worth individuals.
An award-winning four-bedroom, three-bathroom home at 210 Oceanbeach Road bordering the 9th green on the Mount Maunganui Golf Course is also for sale, while a brand new five-bedroom, three-bathroom home at 66 Oceanview Road with quality fittings and fixtures is for sale by deadline private treaty.
A brand new home at 66 Oceanview Road, in Mount Maunganui, would suit buyers who want to forfeit a two-year build process and just move in. Photo / Supplied
Bayleys agent Sharon Hall said in her listing on OneRoof: “Why spend the next two to three years of your life navigating a build project when you and your family could celebrate Christmas 2024 on the tightly held ridge of Oceanview Road, Mount Maunganui?”
Bayleys Mount Maunganui branch manager Linda Greenslade said this was one of the reasons high-end move-in ready properties were in demand. People didn’t want to have to wait.
“The cost of replacement and the time it takes to build those homes is significant so I think they are in demand because you don’t have to spend 18 months building a home and you can walk into something with superb quality,” she told OneRoof.
When these high-end homes hit the market they often presented good value for money, she said, because the people who built these high-end properties usually spared no expense in the design and build to create their dream home.
The properties that fetched the highest dollar were usually in the beach town’s best positions – often overlooking the beach and close to town.
- Nga Parae Road, in Oropi, Western Bay of Plenty, has an asking price of $15.25m
