A Wellington rich lister snapped up a boat shed at auction for $390,000 this week.
Bidding on E134 on Evans Bay Parade, in Hataitai, Wellington, started at $290,000 in the Bayleys Commercial auction in Wellington on Thursday morning, and concluded 14 minutes later after 18 bids.
Bayleys agent Mitch Agnew says there were seven registered bidders at the auction, three of whom made bids. “A lot of them sit on their hands and it if it goes cheap they might bid,” he said.
The boat shed was bought by well-known Wellington property investor Matthew Ryan.
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Ryan, who has been called a “mega landlord” in the media and is a regular property commentator on Newstalk ZB and other media channels, already owns one of the neighbouring boat sheds and has it listed privately for sale.
He told OneRoof that he made moves on the shed at E134 because it much more modern than the others, having been built in 2007. He said the one he has listed for sale was "built in the 1930s or 40s".
Ryan is a fan of the Evans Bay Parade sheds. He bid on one that came up for sale in December 2019 but was not successful.
The lure of the boat sheds was lazy Sunday afternoons, he said. “You are not allowed to stay overnight, but it’s a gorgeous spot and we have used it for Sunday afternoon lunches with friends around.”
Property investor Matthew Ryan says of the sheds on Evans Bay Parade: "It’s a gorgeous spot and we have used it for Sunday afternoon lunches." Photo Mark Mitchell
Ryan plans to connect number 34 to town water and sewerage, making it one of only three of the boat sheds on town supply.
Although the boat sheds can’t be lived in, the former owners of E134 had started an upmarket renovation of the 94sqm boat shed that sold today.
“This shed’s owner once had grand plans but has reluctantly decided it's time to move on," Agnew and fellow listing agents Grant Henderson and Madi Cowan wrote in the listing. "Having been built with the best of materials, fully lined in hardwood ply, large exterior hardwood deck and boat ramp, the opportunity to complete the high standard of interior finish is the icing on the cake.
“There is a list of high-end chattels like a Villeroy & Boch bathtub already in place and other quality fittings ready to be installed and finished so you can really make this place your very own.”
Agnew said one of the draw cards for Ryan was that the previous owner had applied for consents 14 years ago. “Today’s council standards would probably not warrant consents like that.”
Ryan is looking for offers over $299,000 for his other shed. “We purchased it in 2015 from well-known Wellingtonian entrepreneur Bill Day in ‘shabby chic’ condition. It’s [since] been professionally repainted on the exterior and had brand new marine grade roofing iron and insulation installed."
Ryan, who has previously posted about his Ferrari 360 and 430 cars online, was the victim of theft earlier this year when his rare handmade 1962 S3 Bentley was stolen. It was later recovered. One of the thieves allegedly wore a chauffeur’s hat when he drove off with the car.
