Architects and medical professionals have already bought pricey sections in a luxury gated estate on Waiheke Island, but the latest section was picked up by an American who worked on the latest Avatar movie.
Ray White principal Matthew Smith told OneRoof that the sale last month of a plot on Hoete Way was to an animator from Seattle who works for Weta Digital, the New Zealand-based special effects company that has provided the magic for countless Hollywood blockbusters.
The buyer was able to make the purchase because he was married to a Kiwi, but Smith said there have been a lot of other disappointed Americans who have expressed interest in buying at Wawata Estate but can’t because of the overseas buyer ban.
Smith revealed he also had a “very disappointed” Austrian billionaire who wanted to buy three sections.
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Interest had definitely picked up for sections in the estate above Palm Beach, between Oneroa and Onetangi, which was once a hilltop farm, he said.
There are only 25 sites and 11 have now been sold, with Smith saying Ray White Waiheke is now the sole agency for all the unsold sites after developer Chris Jacobs announced earlier this year that he wanted to sell the entire $60m project as one lot.
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Jacobs told the New Zealand Herald in May that was because sales were taking longer than expected.
The housing downturn and the Covid pandemic factored into the decision, and Jacobs called in commercial real estate specialist Whillans Realty Group to collectively market the unsold sections on the 38-hectare estate.
“It doesn’t take a rocket scientist to work out that it’s a bad time to sell luxury coastal real estate to the market,” Jacobs told the Herald.
Smith said there was no success in selling the project as one lot, although that was still an option on the table, but added that people were interested in individual sites.
A plot in Wawata Estate on Hoete Way was sold to an American animator who worked on the latest Avatar movie. Photo / Disney
The gated Wawata Estate has proved popular with architects, medical professionals and architects. Photo / Supplied
That’s because they were becoming confident again about building as costs were coming down and there were more builders around.
“There have been quite a few cancellations for jobs around the country so there’s a lot more availability of builders now,” Smith told OneRoof.
People have also realised they can buy a piece of land on Waiheke and build for about half the cost of buying a quality architecturally-designed home of significance elsewhere on the island, he said.
Smith recently relisted 7 Tamihana Road (Lot 18) with an artist’s impression of what a home could look like, and said there had been plenty of inquiry.
The section on its own is being marketed with a $2.96m price tag but the listing also appears in the $10m search bracket on OneRoof and listed as price by negotiation.
Smith said this price by negotiation option was there for buyers who were interested in building the architecturally-designed four-bedroom, six-bathroom home envisioned for the site by Gaze Architects.
Buyers don’t have to build to that scale, however, with Smith saying the estate had a strict design code around quality, not cost or size, so people can build as small as they like.
He said the fact that three architects had already bought sections was a great indicator of the quality and potential of the sites, some of which were sloping.
“What they’re saying is the slope and topography actually works in their favour because you never ever, ever can lose any of your view - the view you’ve got now is the view you’re going to have for the rest of your life.”
The design for the hilltop home at 7 Tamihana Road is from David Klosser, principal architect at gaze.co.nz. They include a tennis court on the lower flat zone. Photo / Supplied
An artist's impression of the kitchen shows high-end living. Photo / Supplied
The living spaces make the most of the property's stunning view in this artist's render. Photo / Supplied
The feedback is also that a lot of people on Waiheke, in areas like Church Bay, Park Point and Matiatia Estate, do most of their living inside or around pools and on balconies so don’t utilize all the land anyway.
All the sites at Wawata Estate get “unbelievable” water views, and all-day sun, Smith said, and because of the design code no one has to worry about a monstrosity being built next to them.
“Every single property is going to be aesthetically pleasing and it will end up being one of the most beautiful estates in New Zealand.”
Various concept plans have been developed by architects, including those who have bought their own site.
One of them is award-winning architect Julian Guthrie, who bought a section at Puhata Lane. He was shortly due to start building his “Waiheke bach”, Smith said.
Three people in the medical industry have also bought sections, including a senior manager of Roche Diagnostics in Asia Pacific, said Smith.
He is using Guthrie to design a home in which he plans to live during the summer with the winters spent in Europe and Asia.
The latest buyer from Seattle is also in talks with Guthrie about designing their home, Smith said.
The owner of a plot on Tamihana Road is also an architect, from the Waikato, and is married to a doctor, and Smith said the couple plan to build and retire to the island in a few more years. And the buyer of a neighbouring section is a Kiwi who lived in Brazil for 19 years and had plans to build Strachan Group Architect concept plans with the build being managed by the architect.
Smith said that buyer was looking for a house, not land, until he saw the render for the property.
“He came out and saw the site and bought the site straight away for $3.5m and he’s getting Strachan Group Architects to manage the complete build so when he moves back here in three or four years the house will be fully complete and finished and turnkey.”
The listing on OneRoof for 7 Tamihana Road says "there is abundant birdsong and ample open space for your own vineyard, citrus orchard, or olive grove". Photo / Supplied
Smith said a French architect, Francois Zab, had also designed his family home for a site on Tipa Road.
While no homes have been completed yet, it’s understood a Herbst Architects-designed home is underway on Tipa Road.
The estate has an archeological site, a kumara pit/food storage area, and will have a 3.5km walking track through valleys and wetlands, said Smith.
Buyers will also own a 25th share in all the roads on the estate where they can walk or run: “It’s like buying into a 94-acre parkland. You get to enjoy the whole estate but you only have to look after the land around your house.”
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