Large beachfront holding to be converted into four sections

Monday, 5 August 2019, 10:01 am
Press Release: Bayley's Real Estate

One of the last remaining undeveloped ‘quarter acre’ beachfront sections at Mount Maunganui in Tauranga has sold conditionally – with plans released showing it is to be subdivided into four smaller sections.

The 1,583 square metre block of land at 313 Oceanbeach Road was one of only two bare privately-owned sections along Mount Maunganui Beach which have no homes on them. The plot sits directly alongside a council-maintained grass and sand public walkway which links the road with the beach.

The bush and scrub-covered land has been owned by a Mount Maunganui family for 50 years. The former owners purchased the site with the intention of building their ‘retirement’ home, and the predominantly flat site was cleared back in the 1970s in preparation for building work to begin - but construction of the proposed dwelling never commenced.

The beach scrub-covered ‘quarter acre’ section was marketed for sale at the beginning of the year through Bayleys Mount Maunganui. Salespeople Janelle Ganley and Kay Ganley said the property had been bought ‘conditional’ on the new owner, TYBI Limited, developing the property into four subdivided sections – and then on-selling them.

The proposed new sections come with price tags ranging from $850,000 for the 325 square metre plot immediately off Oceanbeach Road, up to $2.85million for the absolute waterfront 609 square metre plot overlooking Mount Maunganui Beach. They can be bought either individually, or in any combination, with minimum deposits of 10 percent upon going unconditional.

As well as the beachfront section and depending on building plans, two of the sites could have sea views – with the second section back from the beach potentially being able to be constructed on a sand mound. The land has a current Tauranga City Council rating valuation of $4.1 million.

Ms Ganley said the subdivision plans for 313 Oceanbeach Road showed the four sections would have shared access of a perimeter driveway. She said that any sale of the four proposed subdivided sections would only proceed if at least two of the sites were purchased in advance of the original settlement date on the entire landholding.

Ms Ganley said a search of real estate listings along the Mount Maunganui beachfront revealed there were only two other residences for sale – all of them featuring existing dwellings, but none of them offered as ‘land-only’ packages.

“The ‘land-only’ options at 313 Oceanbeach Road means any new owner can have a bespoke home built to their designs and specifications rather than taking on what has been someone else’s home,” she said.

“From that perspective, they are unique selling propositions.”

Ms Ganley said the developer vendor was so confident of the project proceeding, that a subdivision resource consent application had already been lodged with Tauranga City Council – which could see land titles being issued in early 2020.

© Scoop Media

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