A pile of rubble for sale near the beach is expected to attract the attention of locals and boaties, OneRoof has been told.
The Waihau Bay property, in Ōpōtiki, is on the market as a mortgagee sale after an electrical fire destroyed the 1950s bach that had been there.
Remnants of the holiday home can be seen in the listing on OneRoof. The photos show a chimney stack, scattered rusted metal and other debris, and what appears to be the building pad.
OneAgency agent Pip Woodhouse-Shea told OneRoof that whoever bought the 1143sqm section at 8933 State Highway 35 would be getting a bargain.
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The property has an RV of $420,000 and a recent registered valuation of $390,000 for the section. OneRoof records show it last changed hands in 2005 for $385,000.
Woodhouse-Shea said Waihau Bay was a popular area, particularly with fans of deep sea fishing.
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The secluded area is about two hours from Whakatāne and an hour-and-a-half from Ōpōtiki and has a boat ramp, wharf, fishing club, lodge, and general store. “It’s kind of known as the gateway for game fishing,” she said.
She had fielded enquiries from around the country and from those with links to the building trade. Properties in the area rarely hit the open market and were often sold within the community, she said.
“I’ve had enquiries from locals who have said to me, ‘Gosh, we hardly ever know anything is on the market and then we find out it has sold’.”
The site is surrounded by farmland and would need to be cleared but there is potential for someone to put their caravan on the site in the short-term, or build a permanent home.
“It’s just a unique section in the middle and on the side of the bay there,” Woodhouse-Shea said. “It’s a lovely community down there.”
The 1143sqm section at 8933 State Highway 35 is close to the beach. Photo / Supplied
A 3700sqm section for sale at 10215C State Highway 35, in Waihau Bay, is looking for buyers with $325,000-plus to spend. Photo / Supplied
The property was being sold "as is where is" so buyers should do their due diligence, she said. “That’s the risk they take with buying at a mortgagee sale, but saying that, they could it for less than its genuine value.”
While she did not know the circumstances around the sale of this property, she had sold several mortgagee sales in the area and said most of the time there was a “hard luck story” behind them.
Northern Group agent Mikaela Hawk said Waihau Bay attracted people who were looking for more affordable untouched coastal properties. “It’s quiet and serene and there’s not many homes built down there.”
Hawk is selling a 3700sqm section at 10215C State Highway 35, in Waihau Bay, which is inviting enquiries over $325,000. The property was just four sections back from the beach and about three minutes from the boat ramp and general store.
She said Waihau Bay offered good buying and pointed out that the same section two hours away in Ohope would be almost three times the price. “It’s just so much more affordable down there.”
The lower price, open spaces, and deep-sea fishing were the biggest drawcards for people, she said. The section had been attracting people from both Auckland and the Coromandel who were looking for a cheaper bach in a much quieter spot.
“Obviously Coromandel and all that are quite pricey,” she said. “It’s pretty small, but it’s very tight-knit – the community and stuff.”
- 8933 State Highway 35, in Waihau Bay, Ōpōtiki, is for sale, deadline closing November 13
