A 1990s plaster do-up in a popular Coromandel beach town has sold under the hammer for $2.9 million as buyers continue to battle it out for elevated coastal properties with impressive views.
The hill-top home marketed as being all about its “mind-blowing views” over Hahei sold at a Bayleys auction last week after three buyers battled it out.
Bayleys listing agent Lea Jurkovich said there had not been high levels of enquiry about the house, but those who showed interest had been serious about it.
The auction for the “total do-up” started at $2m, it went under negotiation at $2.85m, was announced on the market at $2.86m and eventually sold for $2.9m – which was well above its RV of $1.5m.
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The house was secured by a local buyer as an investment property, while the two buyers who missed out were out-of-towners looking for holiday homes.
The 1093sqm section was purchased in 1984 and transformed, from being covered in gorse, into a private garden surrounded by native planting.
The listing agent, Lea Jurkovich of Bayleys, said while it was a do-up, the views from the hill-top home were amazing. Photo / Supplied
The home had two bedrooms and two bathrooms and sat on a 1093sqm section, which was bought in 1984 while the house was built in the 1990s. Photo / Supplied
The owners built the architecturally-designed two-bedroom home, two-bathroom home in the 1990s and this was the first time it was on the market.
Jurkovich said while the plaster-clad home was a “total do-up”, homes with amazing views were rare.
“These properties never come up so certainly an amazing opportunity for someone and a rare opportunity.”
Sea views, she reckons, is the number one thing buyers want, and they usually came with a hefty price tag of $2m-plus.
“Views are up there now. It’s expensive.” If having views is outside the budget, then people want a property within walking distance to the beach.
97 Orchard Road in Hahei, Coromandel, will be auctioned off on December 4. Photo / Supplied
A three-bedroom, two-bathroom Lockwood home at 97 Orchard Road in Hahei is also being auctioned by Richardsons in December. The property sits on a 4785sqm section with panoramic views. The property, described as a “rare opportunity to secure a foothold in one of the Coromandel's most sought-after beaches”, is also expected to attract a lot of interest.
Last month a lifestyle six-bedroom property on an elevated section in Purangi Road, Cooks Beach, with impressive sea views, was snapped up at an auction for $4.5m – $1.9m more than what the owner expected. The property was purchased by a Bay of Plenty family for their holiday home.
