A 300ha farm on Waiheke Island is for sale for the first time in 50 years – and the trophy property is expected to fetch tens of millions of dollars.
The multi-million-dollar property, which has only been in the hands of just two families, boasts around 5km of private coastline and is one of the biggest parcels of land to come on the market in the Auckland region in years.
The listing agent, Bayleys chief operating officer Duncan Ross, told OneRoof he expected it to catch the eye of ultra-high-net-worth buyers.
“It really is quite stunning – 300 hectares on the northern coast of Waiheke. There’s nothing quite like it,” he said.
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The property, known as Fountainhead, was originally purchased by the Carey family in 1871 and then bought by Californians Philip and Diana Goldman in 1971.
It has already been divided into 16 titles and a buyer could turn part of it into a luxury lodge and golf course or build multiple houses on the land.
“The property runs from Woodlands Bay in the West through to Carey Bay in the East and back to Man O’ War Bay Road with a parcel of land that sits across the other side of the road on the wetlands," Ross said.
“There hasn’t been another parcel of coastal land this big come on to the market in the wider Auckland region.”
The property has its own private beach and offers 300ha over 16 titles. Photo / Supplied
If you could design your own beach, Carey Bay was what you would likely end up with, Ross said.
“It’s white sandy, north facing, it’s got a beautiful curve. It’s sheltered, it’s bookended by rocky outcrops, it has some flat land running off the beach there and it has that nice gradient so it’s not steep or real shallow so you get the best of safe swimming along with that beautiful turquoise water that comes in straight offshore.
“The rest of the property has some stunning bush and undulating and steeper contour which really gives you some amazing aspects from various parts of the property so you’ve got cliff top and then you’ve got down into other bays.”
He said the property offered some amazing views. “There’s some that look out to the Gulf, there’s some that look out right across to Coromandel and out to Barrier and there’s some that look back in towards Onetangi and Piemelon Bay,” he said.
“It is simply stunning, and the forest in it is quite spectacular, too.”
Ross said there was potential for further subdivision. “Further subdivision on Waiheke on some of these big plots of land are inherently difficult, having to go through a number of hoops, so this is the trophy purchase of a generation. It really does lend itself to that ultra-high net worth [buyer] looking for some superior sort of privacy on Waiheke.”
The farm was originally purchased by the Carey family in 1871. Photo / Supplied
Overseas buyers would have to go through the tough Overseas Investment Office process, with one of the requirements to show they would provide economic benefit, but Ross said there were a number of Kiwis globally who had the capability to invest in such a property.
“I think what has come out over the last 12 months with Covid is that New Zealand is a bit of a bolthole.
“We’ve got a special form of isolation given we’ve got 2000km of water between us and our neighbours. There are a significant number of high-net worth Kiwis living offshore that have flown under the radar for a long time and are looking to secure something special back here.”
The property is currently operated as a farm but there is heritage with protected areas attached to the site.
Ross said: “The history pre-dates European settlement. There are Maori pā sites and terraces on it and registered archaeological sites.
“The Carey family purchased the land in 1871 and built a cottage, the original homestead, in 1886 and a component of that has been added to but the heart of it is the original cottage."
The property is being sold by way of expressions of interest, closing on April 8.
