A three-bedroom beach-front home on Waiheke Island has sold for $10.2 million, OneRoof can reveal.
The luxury bach last changed hands in 2010 for $1.575m, according to records, and had a 2021 CV of $7.7m.
It hit the market at the end of last year, with listing agents Martin Dobson and Charles Collins, of Kellands, closing a deal in February.
Dobson was unable to disclose details of the sale, but did tell OneRoof that the buyers had recognised the quality of the home.
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“Like anything, they see the quality and that everything is all done, they really appreciate that they don’t require anything doing, they’re just turnkey.
“We have a shortage in general of these houses,” he said.
The 247sqm bach sits on an 888sqm section on Beach Parade, in Oneroa, and has featured in several home and style magazines.
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Designed by architect John Irving, it has two gable pavilions of cedar and concrete wrapped around a private grassy courtyard and featured an upscale kitchen by Cronin kitchens, beachside garaging for boating toys, indoor and outdoor fireplaces and a lift. Steps behind the house linked to the Oneroa village, and the house was sold fully furnished with all the chattels.
The property is one of just a handful of $10m-plus sales on the island, but agents believe more eight-figure deals are likely this year.
OneRoof reported earlier this year that a beachfront home on Palm Road, Palm Beach, fetched $10.5m in February, although that sale is yet to settle, and broke the news that an extensively rebuilt residence on Orapiu Road sold for $17.5m in December.
The sub-$10m market is also active, with a four-bedroom house on Sixth Avenue, above The Strand, in Onetangi, fetching $8.15m in January. The property was marketed by Bayleys agent Mana Tahapehi, who also got $6.145m for a four-hectare lifestyle retreat on O’Brien Road, in Omiha, in January and $6.031m for four-bedroom house with a sleepout on Hill Road.
The Beach Parade house was on the beach, with parking for boating toys, and steps leading back up to Oneroa village. Photo / Supplied
The gable concrete and cedar pavilions wrapped around a grassy courtyard. Photo / Supplied
“Two of those three sales were to locals, people who’ve been coming to the island for years and upgrading in Waiheke,” Tahapehi said.
“Many of them have a five-to-seven-year plan, but when they see good real estate, they jump on it while it’s there."
He added: “The Hill Road house is very unique, a stone’s throw to Palm Beach, it was a Macintosh Harris design. It’s rare to get that on the island, it doesn’t come up every year. O’Brien was stunning on top of the hill with views forever, which sold to a Kiwi who is back from overseas.”
Tahapehi said stock levels were low at the top end. “It’s the same in central Auckland – Herne Bay or Ponsonby or Remuera northern slopes. People are saying ‘let’s sit back and see what’s happening’, they’re in no rush to sell.”
Chris Jones, managing director for New Zealand Sotheby’s International Realty in Auckland and Waiheke Island, which brokered the $17.5m deal, noted that while the market was moving into what is typically quieter season, buyers were still shopping and were putting in strong offers for beautifully renovated beachfront properties.
An estate on O’Brien Road, Omiha, sold for $6.145m. Photo / Supplied
A three-bedroom bungalow on Waikare Road, Oneroa, sold at auction for $4.225m in February. Photo / Supplied
Ray White’s Harry Howe who, with Helen Cusworth, brought a stylishly renovated bungalow on Waikare Road, Oneroa, to auction in February said that it met the golden ‘location, location, location’ rule. With only one bidder, it sold under the hammer for $4.225m, but there were buyers lined up with “post-auction interest.
“That’s in line with most auctions for the last six months. We had interest from expat Kiwis and Aucklanders looking for their high quality bach.
“The problem is a shortage of stock. The [sellers] are from affluent east or central Auckland who, if they perceive the prices aren’t there, will just shut up shop.
“But the buyers are recession proof, we’ve got one looking with budgets of $8m to $10m. Compared to the top end of 12 or 18 months or two years ago there’s hardly anything at that end,” he said, adding that he has properties with price tags of between $4.5m and $9m that are quietly on the market but not advertised.
Bayleys Waiheke sales manager Mark Spitz said that high-end beachfront buyers are often scanning both the Waiheke and Omaha markets.
“There’s a commonality there, they’d all be quite happy if they got one or the other. They realise because of availability that they can’t put all their eggs into one market, it might be two years before anything comes up,” he said, adding that activity in the past couple of weeks has seen a significant lift, particularly in the $3m-plus segment.
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