- A 1583sqm waterfront section at 331 Oceanbeach Road, Mount Maunganui, is on the market.
- The property, bought in the 1960s for £4000, is rare and highly sought after.
- Agents expect strong interest, with no price indication given, and offers closing June 26.
An empty waterfront section at Mount Maunganui has hit the market for sale for the first time since the 1960s.
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Bayleys listing agent Sharon Hall told OneRoof the “astute owner” had bought the 1583sqm section property at 331 Oceanbeach Road for £4000.
“The family is keen to hand the title over and we are looking for all offers,” she said.
Hall's marketing for the property notes that it is “as rare and revered as a Goldie painting or a fine heirloom” and a “pristine price of coastal paradise".
The flat elevated section right on the beach at Oceanbeach Road was bought by its astute owner for £4000. Photo / Supplied
The listing agents have likened the property to a Goldie painting. Photo / Supplied
The property is one of a handful of vacant waterfront sections still left in the wealthy beach suburb. Most are on Oceanbeach Road and have RVs that range from $5m to more than $10m. Two on the edge of the dunes on Maranui Street have RVs of $12m and $13m respectively.
Hall declined to give a price indication for 331 Oceanbeach Road, instead telling OneRoof: “The vendors will meet the market. We just do not know where this one is going to land. We are looking for all offers.”
Hall said the vendor was not from the Mount, and began his working life in rural central North Island.
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“He was a train driver for New Zealand Rail, he started straight from school, at 14 or 15. He went right up and down New Zealand, and he spotted that land," she said.
“He did lots of overtime because he was a single man, so he worked really hard and put his money into property. He was very astute and saved all his pennies and dollars.”
Hall, who is marketing the property with colleague Linda Greenslade, believes that section had a bach on it at one point, which the vendor rented out before it was demolished.
“There will be a lot of interest for all sorts of reasons. There’s potential development, but also there are private people who want the land size to build,” she said.
The record price for Mount Maunganui of $11m was set three years ago for an architecturally designed house further along Oceanbeach Road. Photo / Supplied
162 Oceanbeach Road is up for grabs. The five-bedroom home with a pool opens to the golf course. Photo / Supplied
Greenslade said there was a lot of interest at the upper end of the market in the suburb, mainly from Waikato and Auckland buyers, but highlighted the rarity of 331 Oceanbeach Road.
The agents said the last time a similar plot of land hit the open market on the Mount was five years ago. “They come up intermittently. And every time we sell one, we say, ‘Gosh, that’s got to be the last one’ and then another one comes up.
She said 331 Oceanbeach was zoned medium-density residential, and unlike some beachfront sections, did not come with covenants. “And this one is a very clean level site that elevates up."
She added: “There will be a lot of interest for all sorts of reasons. There’s potential development, but also there are private people who want the land to build on.
"I’ve had people look at it to just own it and leave it to their children because it is such a heritage piece for any family. It is just such a gem."
Buyers planning to build their dream home will have taken note of the record price for the Mount, achieved by Hall nearly three years ago when a luxury three-bedroom home on an 838sqm section sold for $11m.
“My role was playing Cupid,” Hall told OneRoof at the time of the sale. “The vendor was absolutely amazing.”
Hall is also marketing another property at 162 Oceanbeach Road, a stylish five-bedroom home with a pool on the golf course side of the street. Records show the rejuvenated Hamptons-inspired house, which sits on an 855sqm site opening to the golf course, sold three years ago for $4.65m.
- 331 Oceanbeach Road, Mount Maunganui, is for sale by deadline private treaty closing June 26.
