A shortage of luxury homes on the market for sale underscores a wholesale development opportunity on Auckland’s Waiheke Island, set to attract interest from developers, fine home builders and investors redirecting capital.
Eight freehold titled lots elevated between two of the island’s best beaches are being offered to the market as a significant residential development opportunity seldom seen on the exclusive island.
The lots, which range in size from 0.5593ha to 1.3161ha (more or less), are to be sold as one package, representing a substantial add-value proposition, strengthened by the inclusion of integrated concept design plans by leading architects G2 Studio - available as one option.
Bayleys Auckland Central salesperson John Greenwood says the north-facing lots, which represent a total land parcel of 7.1217ha (more or less), provide an opportunity to deliver design and build products to capture the attention of the country’s most discerning families, retirees, and a well-heeled international set.
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“The sites face north, and being high on the ridge, offer magnificent panoramic views of the Hauraki Gulf and outer islands whilst basking in all day sun,” he says.
“Evolving over the last five years to become a truly inimitable community, centrally located, and overlooking Waiheke’s most spectacular coastline, Wawata Estate is a magnet for private individuals who recognise its unique value as an exceptional place to build and live.
“There are 25 individually titled lots in the lifestyle precinct, with the estate’s infrastructure – roads, embankments and services all consented and completed to a very high standard,” he says.
Greenwood is marketing the parcel for sale with Bayleys Waiheke Island sales manager Mark Spitz in a sale by tender closing at 4pm on Thursday, 8 December 2022.
Nine other lots have been sold, and the construction of several architecturally designed homes is planned for this building season.
Leading Auckland architects, including Strachan Group, HERBST, Julian Guthrie, and G2, have designed outstanding homes for the sites which adhere to Wawata Estate’s comprehensive design guides - ensuring the integrity of homes built within the precinct will be something really special.
Greenwood says a separate entry sets this block of eight lots apart, with private vehicle access off Crescent Road West, to Hoete Way and Puhata Lane.
“Having a gated private estate of this calibre is unique, even for this exclusive community, and gives this particular collection of sites a distinct pedigree.
“A bridle path also allows direct access to popular Palm Beach via Hill Road - just a five-minute walk to its lapping waters, golden sands, and small village with a café, takeaway and general store.”
Spitz says Waiheke Island’s profile has grown exponentially over the last decade and is now a bonafide lifestyle destination dubbed the ‘Hamptons of New Zealand’ by Condé Nast Traveller for its 40 kilometres of coastline, pristine beaches, bushwalks and renowned art, wine and restaurant scene.
“Wawata Estate occupies arguably the best position - elevated above the stretch of coastline that connects Palm and Onetangi beaches,” he says.
Once weed-covered farmland, the developers have converted the grounds of Wawata Estate into a magnificent 94-acre parkland.
“The wetlands have been restored, and over 300,000 native plants have been added to the existing native trees and Granddaddy pohutukawa, attracting thriving birdlife. This is exclusively enjoyed by the residents of just 25 premium home sites.”
Spitz says the estate’s location, just a 10-minute drive to Oneroa Village and 15 minutes to passenger and vehicle ferries, make it an attractive lifestyle proposition for residents, which continues to see resilient demand at the top end of the market.
“There’s a dearth of luxury homes and superb coastal lots like these available for buyers right now. These individuals are less impacted by lending conditions and continue to transact, creating competition for luxury properties.
"This robust appetite, especially for properties in desirable and waterfront locations, underscores an exceptional opportunity for new purchasers to capitalise on the exclusivity and incomparable location at Wawata Estate,” he says.
- Article supplied by Bayleys
