A derelict house has sold for $3 million? That can't be right. Even in Auckland.
Well, the sale of 89 St Mary's Bay Road, in Herne Bay, makes sense when you ignore the house and focus on the property's address, it's size, proximity to the CBD and the view it offers.
The property, which was marketed for sale by tender, had an RV of $2.475 million for a reason.
The house sits on a freehold 865sq m site, is in walking distance of the CBD and enjoys elevated views out over the harbour and the Harbour Bridge.
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Not many Auckland properties on the market at the moment can offer that.
Harcourts sales agent Cynthia Klenner, who marketed the property, hit the nail on the head when she told the Herald in March that the section was one of the largest on offer in the area.
"Most people would say that the house is too far gone but it's about the land and location and what [the new owner] can do with it," she told the Herald.
The Herald reports that the property settled on April 19 and that the sale price was $3 million. Property records list the purchaser as Possum P Ltd, whose sole director is Virginia Maxwell.
The Herald reports that new owner also appears to own two neighbouring properties, and it is unclear whether she plans to knock it down or embark on an ambitious restoration project.
As the area is categorised as "special character" a new house would have to be "built to heritage" under the Auckland Unitary Plan or in keeping with the historical nature of the area.
Herne Bay is one of the most affluent areas in New Zealand, and the suburb was the first in New Zealand to boast a median house price of over $2 million. The current median price of four-bedroom homes in the area is $3.8 million. (For more information about Herne Bay and listings in the area click here.)
The former owners of 85 St Marys Bay - Peter and John Rossiter will be happy. Their forebears paid £400 for the property, which the family kept in its hands til last months.
The house on the property had fallen into disrepair, with stained carpets and peeling wallpaper, which made it seem like the ultimate fixer-upper.
Marketing photos showed the original furniture still on site.
In one room, the heat burn mark from the cast iron stove stained the wall above as the discoloured and ripped wallpaper from years gone by masked the home's walls.
In another room, there was an aged piano with chair, table and recliner positioned to get prime views.
Ms Klenner wouldn't disclose the sale price to the Herald but said the Rossiter brothers were pleased with the amount.
Peter Rossiter, 60, told the Herald in March he could still remember watching the clip-ons being added to the Auckland Harbour Bridge.
Rossiter lived in the house up until the end of 2016. He said it had held precious memories from over the years but it was finally time to let the property go.
