A South Waikato family celebrated buying an empty beachside section in the Coromandel by camping on it in their motorhome just hours after winning the fast-paced auction for $820,000.
The sought-after section on Thames Coast Road attracted 10 registered bidders and a total of 34 bids when it was called for auction at Harcourts Thames' packed auction room on Friday.
Bidding on the 1179sqm section, described as the last beachside section in Te Mata, started at $300,000 before swiftly jumping up to $500,000.
There were only two bidders left out of the five active bidders once it passed the mid-$600,000s. Bidding on the property paused at $725,000 and the auction resumed at $820,000 and was declared sold.
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The property had an RV of $475,000 and, according to OneRoof records, last changed hands in 1997 for $125,000.
Harcourts Gold Real Estate listing agent and auctioneer Steven Bridson said the price started rising so quickly at the beginning that some people didn’t even have a chance to get their hands up fast enough to bid.
The rare section was thought to be the last beachside section in Te Mata, just three doors down and across the road from the beach where the iconic driftwood photo frame and Christmas tree stand.
Bridson said the 1179sqm section with a 90sqm shed tucked in the back right corner had attracted a lot of interest from people over 50 looking for a holiday home.
“It’s on that stretch of Te Mata – that prestigious, desired, proud neighbourhood,” he said
“The sunset is so special about it – it's the east coast, but with a west coast sunset and orange skies.”
The 1179sqm section had an RV of $475,000. Photo / Supplied
The new owners are a family from Tokoroa and already have a holiday home in North Coromandel, but were looking for something a bit closer to home, he said.
“They sort of joked about that – it’s their stop-off point and they will decide whether they will continue further.”
Within hours of winning the auction, the delighted sellers had given permission for the new owners Doug and Gayl Nicholson and Alan and Joanne Nicholson to park their motorhome on the section so they could enjoy their win onsite.
“The auction was at 11am when it finished, they left and an hour later they were already setting up camp on the site. The fishing drone launched that afternoon.”
They later enjoyed a meal at the local Royal Oak Hotel in Tapu too.
The new owners are initially looking to build a utility or transportable home on the section which currently has an as is where is well and long drop, he said, and they told him it would be a holiday pad for fun in the sun and to create memories.
In an unusual move, Bridson held open homes for the section to show prospective buyers the boundaries and also erected the largest real estate sign on the section to grab the attention of holiday goers travelling through.
“I have a lot of cashed-up buyers who missed out wanting something special up the coast for themselves. I’m now on [the] hunt for another.”
