A luxury beach mansion that was expected to break Coromandel’s sale price record of $7.41 million has finally sold, OneRoof can reveal.
The no-expense-spared home with six bedrooms and a yoga studio on the Coromandel’s richest beach was listed in January and the tender closed in March. The listing for the Whangamatā beachfront property was only withdrawn last week.
Bayleys listing agent Lea Jurkovich confirmed the Pipi Road property had sold, but was unable to comment further due to confidentiality clauses.
She earlier told OneRoof that her vendor purchased the property with an original bach on it for $1.85m in 2003, before deciding three years ago to build a luxury home on the coveted beachfront section.
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The extensive build was delayed due to Covid and the state-of-the-art home that had only recently been completed was surplus to the overseas owners’ requirements. They had put it up for sale without even staying in it, Jurkovich said.
Standout features include a media room, dedicated yoga room, designer kitchen, Italian-tiled ensuite in the master bedroom and customised cedar-lined sliding roof panels over the expansive deck.
The property has a 2020 RV of $4.28m, which dates back to when the original bach sat on the coveted 809sqm site.
However, there is immense speculation that the property would have broken the record due to its prime location and high-specification. The current record is held by an older property on Seaview Road that was sold to a neighbour for $7.41m in June 2021 in an off-market sale.
The home is built to an ultra-high quality standard and has never being lived in. Photo / Supplied
The home is in one of the best locations on Whangamatā Beach and looks out to Hauturu. Photo / Supplied
An original three-bedroom bach house on Tangaroa Road, in Whangamatā, holds the second highest sale record after selling under the hammer in June 2022 for $6.52m.
Whangamatā Real Estate salesperson Andrew McGee said the Pipi Road sale was the talk of the town.
“It’s an outstanding house in an excellent part of the beach so everyone is just wondering what the price is.
“Everyone is wondering whether it is the record for the town given what a lovely house it is.”
McGee said beachfront properties were tightly-held and often stayed in the same family for many years so did not come up for sale often.
He said beachfront properties were usually bought as holiday homes, and often by people with longstanding connections to Whangamatā.
A seven-bedroom home on Pohutukawa Crescent, in Whangamatā, is the only beachfront property currently for sale, and has a price tag of $6.65m. Photo / Supplied
“Generally, they would hope they will retire and spend more time in the house.
“For me, what I would like about it [beachfront] is just the ability to be able to walk down the dunes and straight onto the beach.”
Bayleys salesperson Dale Sholson said beachfront properties were the “ultimate”. “When you are standing there looking out to the beach, it just can’t get better than that.”
Sholson said they had appraised more beachfront properties in the last 12 months than he’s previously seen, but was unsure why that was and many stayed in the same families for “decades and decades”.
The only beachfront home currently on the market is a seven-bedroom, two-kitchen home at 106 Pohutukawa Crescent, in Whangamatā, which Sholson said would suit extended families, was in a sought-after location towards the estuary and had an asking price of $6.65m.
In February, a renovated beachfront home broke Pauanui’s record after selling for $6.65m. Wealthy businessman Steve Owen sold the updated six-bedroom, five-bathroom Lockwood home on Bonanza Place to switch to an even bigger holiday home closer to Auckland.
- Click here to find more properties for sale in Whangamatā
