$5m slice of paradise for sale
Rare Coromandel gem valued at $4.85m has consent for up to 14 homes
Arare slice of untouched beachfront land is for sale on the Coromandel. The 40ha Matapaua Bay Rd property in Opito Bay has sea views towards Whitianga and Hot Water Beach and its own sheltered bays visited by passing yachts.
Thirty-five minutes north of Whitianga and three hours from Auckland, it has been valued by the council at $4.85 million — the price of almost five Auckland homes at the city’s average price.
The property comes with consent to subdivide into up to 14 residential homes, and 2km of concreted roads and electricity infrastructure for each of the future homes.
The buyer could use the land in a number of ways, Bayleys real estate agent Glenn Tanner said.
It might be to build an “iconic coastal lifestyle retreat”, complete the development of the 14 homes or land bank to “realise future financial rewards”.
It also has an array of native trees, including puriri, pohutukawa and nikau palms that echo with the calls of seabirds. Tanner said the pohutukawa trees were especially beautiful when they flowered next to the water at Christmas time.
“It’s amazing, just a really beautiful spot,” he said. It was not only the size and rugged beauty of land that made it special, according to Tanner.
He confirmed the property had come up as a mortgagee sale by a lender but declined to give more details.
“These opportunities don’t come up very often, and resource consent subdivision right down to the coast is pretty hard to get,” Tanner said.
These opportunities don’t come up very often, and resource consent subdivision right down to the coast is pretty hard to get. Glenn Tanner, of Bayleys, pictured