With an asking price of $70,000, 12 Parawera Drive, in Taupō’s wealthy Acacia Bay, is one the cheapest buys on the market right now.
The 846sqm section up for grabs is located in the gated Parawera community, overlooking Lake Taupō.
It’s a leasehold buy, hence the low price, but Bayleys listing agent Sam McCaskie said in her listing on OneRoof that residents would have access to the already completed community amenities, including a tennis court, a heated indoor swimming pool, sauna and gym, and a BBQ /entertainment space.
The land is owned by the Hiruharama Ponui Incorporation and has a ground lease of $5750.70 a year.
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McCaskie told OneRoof several homes had been built in the gated community and that owners loved living there. “The community out there is fantastic – really nice people. There’s a lot of nature and it’s very quiet,” she said.
Some of the owners lived there fulltime but others rented out their properties as holiday homes. “There’s an option to do short-term rentals,” she said.
The 846sqm section she is selling was “reasonably flat” and faced north, “which is appealing. A lot of them are more south-facing, which is the colder end of Taupō”.
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While property didn’t come with a path down the water, the Acacia Bay boat ramp was a short drive away, McCaskie said.
The development has had a chequered history.
According to a news report by Stuff, the Māori incorporation leased the land in the mid-2000s for 80 years to Symphony Properties to build a three-stage development.
Nine buyers paid up to $1 million each in 2006 for 14 sections but only one was built. The owners reached an out-of-court financial settlement with the developer, which was placed in receivership in 2010.
In 2022, the development had moved on and the first of 15 two-bedroom units designed by retired British architect David Duggan were listed for sale at $450,000.
The facilities at the Acacia Bay development include a tennis court and indoor pool. Photo / Supplied
A completed home in the development, 68 Parawera Drive, is for sale by way of price by negotiation. Photo / Supplied
Duggan, who was involved in the building of Canary Wharf Tower in London and a palace in the Middle East, told OneRoof at the time that the homes were “quite spacious and well-designed”, with “easy flow in and out”.
He claimed they were probably the most sustainable in the greater Taupō area.
The listing at 12 Parawera Drive is one of around eight sections or homes for sale in the gated community. One of the completed homes, at 68 Parawera Drive, is also for sale with McCaskie. The three-bedroom house has a July 2022 RV of $1.047m.
Four more sections are available: 31 Parawera Drive, 52 Parawera Drive, 66 Parawera Drive, and 70 Parawera Drive. The prices for the five sections for sale range from $70,000 to $160,000.
Two more homes, 4 and 7 Winnie Close, are also for sale in the development. Both have RVs of $471,000.
- 12 Parawera Drive, in Acacia Bay, Taupō, has an asking price of $70,000
