Held by the Shanahan family for 50 years, these remarkable properties in Cheltenham, Devonport, hold a prime position, with the front house enjoying absolutely unfettered sea views in both directions – with Rangitoto looming large in the background.

“When our parents bought the land in 1972, there was an old – very original – bungalow on it, which they rented out, as they were building a new house in Takapuna,” says a family member.

“But we did live in the old house during the summer of 1974, and it was the most fantastic place for us as kids with the sun and the sea – we’ve all got very happy memories of those days.

“Following our parents’ separation, our mother had the old house demolished and built two houses, the back one in 1985 and the front in 1987 – they were both designed by our brother, Allan Shanahan, who is a well-known architect.

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“Funnily enough, four of us lived in the back house at different times over the years and Allan’s the only one who didn’t,” the family member adds.

1 and 2/30 Oxford Terrace in Cheltenham have three bedrooms, two bathrooms and a double garage each, and is for sale by negotiation.

Victoria Bidwell, waterfront residential specialist at Bayleys, Takapuna, says this is a very rare opportunity for a savvy purchaser.

1 and 2/30 Oxford Terrace in Cheltenham, Devonport, North Shore

The front house enjoys absolutely unfettered sea views in both directions – with Rangitoto looming large in the background. Photo / Supplied

“Obviously, there’s the location, on one of Auckland’s best beaches in one of its most sought-after suburbs. Working people simply catch the ferry to the CBD and the local schools are excellent.

“You’ve got two homes on two titles, with a total of 1219sqm, so there are various ways that you could develop the property.”

Bidwell says other waterfront properties in heritage suburbs have been zoned ‘single residential’ so this is truly a unique chance.

“There are options available to you that aren’t possible for other local residents. You could live in one and rent the other or replace one only with a new home and refurbish the remaining one.

“Alternatively, two new homes could be constructed on the site.”

1 and 2/30 Oxford Terrace in Cheltenham, Devonport, North Shore

The two houses on two titles were designed by well-known architect Allan Shanahan, a family member of the current owners, and were built in 1985 and 1987. Photo / Supplied

1 and 2/30 Oxford Terrace in Cheltenham, Devonport, North Shore

The land at Cheltenham measures 1219sqm and listing agent Victoria Bidwell, of Bayleys Takapuna, says it is an opportunity for a savvy purchaser. Photo / Supplied

Bidwell says on the other hand, a new owner could utilise the entire section after pulling down or removing the two existing homes.

This would create scope for one very substantial new home, with plenty of space for a pool, garaging, and maybe even new-build guest accommodation.

“This is such an amazing spot – imagine walking down your own back lawn and stepping through the gate onto the golden sand.

“It’s a lovely, friendly, safe neighbourhood for families and has all the lovely shops and cafes nearby.”

The Shanahan family member says that she and her siblings will be very interested to see what transpires after new owners take over the property.

“They have so many really good options to explore.”