It’s the Mount Maunganui mansion locals dream about buying if they win Lotto. And it’s now on the market for sale for the first time in 15 years.
The sprawling resort-style residence on Marine Parade is aiming to smash Tauranga’s current house price record of $11 million.
Bayleys listing agent Conrad Doyle said the property, known locally as Mandalay, was one of the most prestigious on the beach suburb’s Golden Mile.
“I know a lot of the locals and that property to local people is super special and everyone that lives on Marine Parade or surrounding streets always aspire or dream to own that residence,” he told OneRoof.
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“If you win Lotto, that’s the house you go and buy. It’s just one of those properties that everyone loves at the Mount. It’s a special property to this area.”
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The imposing property was spread over two back-to-back titles on Marine Parade and Muricata Avenue with street access from the front and vehicle access complete with covered boat and jet ski parking from the quieter Muricata Ave at the rear.
“It’s like driving into a resort as you can see. Again, you’ve got a big grand residence, lots of off-street parking, massive pool and spa area – it feels like you are driving into a Balinese resort.”
The large land size of 1401sqm, high-quality six-bedroom, three-bathroom home, sought-after location with views of the beach and out to Rabbit Island all pointed to it being a possible record, Doyle said. A self-contained guest wing sits within the 478sqm home.
The property is aiming to break price records. Photo / Supplied
The owners use the property as their holiday home. It has a Balinese vibe. Photo / Supplied
Doyle declined to give a price indication, but instead referenced other high sales in the area and why it could be above those.
The highest-ever sale for Tauranga and the Bay of Plenty was an architecturally-designed three-bedroom, two-bathroom near-new beachfront home on a 838sqm section on Oceanbeach Road. It fetched $11m in July 2022.
The most expensive property to sell in Mount Maunganui this year is an original 1930s bach about 10 doors down on Marine Parade, which sold at auction in August for $8m.
The expansive property overlooks the beach and has views of Rabbit Island. Photo / Supplied
A luxury home on Oceanbeach Road, in Mount Maunganui, holds the house price record for Tauranga. It sold in 2022 for $11m. Photo / Supplied
Doyle said it sold for pretty much land value as the Waikato owner planned to build a dream home on the site, whereas 91 Marine Parade and 29 Muricata Avenue was on a section almost double the size and had a “beautiful” move-in ready home on it.
“It’s a large residence you don’t have to do any work on – it’s all double glazed and the home is beautiful – people will pay a premium for properties that they don’t have to do a huge amount of work on.”
Doyle said the current owners had loved the holiday home – which they paid $6.45m for in February 2009, according to OneRoof-Valocity records – but were selling to downsize.
Early buyer interest had come from Auckland, Waikato, Australia and expat Kiwis living in the UK, but the listing agent wasn’t ruling out people from the Bay of Plenty buying the luxury home either.
“We are not discounting wealthy locals that know the value of these sorts of properties and the future value as well.” People had been looking at it as both a holiday home or to live in permanently.
