A “pink” seaside home with unparalleled views of the Pacific Ocean has offered below the hammer for $three.15 million – virtually $1m above its ranking valuation.
The 1201 sq m property at 265 Pāpāmoa Seaside Rd in Tauranga had not been in the marketplace in near 50 years and is one in every of final undeveloped large-scale sections fronting Pāpāmoa Seaside.
Bayleys agent Kay Ganley, who marketed the 260 sq m residence, described the home as having basic “70s present” retro decor.
Lots of the rooms are a riot of pink together with pink wallpaper, pink carpets, pink curtains and pink furnishings and cabinetry.
Managing director of Realty Group Ltd, which owns Bayleys and Eves, Simon Anderson, mentioned yesterday was an thrilling day within the public sale room.
“What we’re seeing available in the market the place there are these high finish properties they’ve good curiosity in them from money patrons who’re chasing onerous to get them.
“Clearly, the Mount market is fairly distinctive. These locations come to the market hardly ever and once they do there’s a number of curiosity for them from native and outdoors patrons.”
In her itemizing advert, Ganley mentioned: “This rambling seashore hideaway presents a spread of potentialities – the obvious maybe being to demolish and construct your dream residence.”
Competitors for the property, which has a ranking valuation of $2.25m, was intense, with greater than 30 bids made through the on-line public sale.
Ganley mentioned 4 patrons, three native and one from the Waikato, had competed to safe the property, with one of many locals making the successful bid.
“It is the primary massive seaside entrance property since a 1583sq m block of land on Oceanbeach Rd got here to market final 12 months. Locals know the values greatest,” she mentioned.
“It was initially the household’s vacation residence – they used to come back over from Rotorua, however then they moved over with their 5 children completely, and simply stored including and including to it.”
Ganley estimated the unique worth of the part would have been round 500 kilos, “however it’s all relative”.
The 86-year-old vendor was unhappy to be leaving however the brand new house owners deliberate to finally construct a brand new residence on the location, Ganley mentioned.
Purchaser demand for seaside entrance sections in Tauranga is excessive. Earlier this month, the Bay of Lots Instances reported the sale of three heaps on a vacant part on close by 313 Oceanbeach Street.
And a 1548sq m property on the market at 223 Oceanbeach Street, which nonetheless options its unique 1940s bach, has had a number of enquiry – a few of it from abroad – since hitting the market final month.