Coastal property receivership sale

Media Release
Date 9.1.2009

Coastal property buyers expected to be in with a shout at Whisper Cove receivership sale

Coastal property buyers seeking to pick up lifestyle blocks of land, look set to be the big winners from the receivership sale of a waterfront location.

Whisper Cove near Snell’s Beach in Rodney District just north of Auckland was originally planned to encompass 15 hectares of land with 159 units. Development commenced at Whisper Cove in 2004 with only stage one completed – much of the land remains in a bare state. That land is now being sold through the receivership process by Bayleys Real Estate.

The Whisper Cove land liquidation sale sees a parcel of 7.1 hectares broken down into a handful of smaller development or lifestyle opportunities, offering:
• Six elevated lifestyle lots ranging in size from 2150 square metres through to 1.2 hectares overlooking the bay.
• A 1.6 hectare plot with planning consent and approval for 52 units
• A 1.1 hectare site with planning consent and approval for 38 units
• A 1.3 hectare site with planning consent and approval for 28 units
and
• A 707 square metre waterfront plot with consent and approval for a café and general store.

The land options are being sold by Bayleys through a receivership tender process, with tender submissions closing on February 25. Land package sales consultant Michael Pleciak said the lots offered unique opportunities to be involved with an upmarket coastal subdivision to create lifestyle blocks which were previously unavailable under the old concept plans.

“The size of these plots mean they can either be purchased with a view to future development in line with completing the intended seaside community, or kept intact as highly desirable large blocks of land capable of supporting a sizeable home on a lifestyle coastal property,” Mr Pleciak said.

“The bulk of the infrastructure and services at Whisper Cove have already been laid and are therefore accessible to those wishing to begin building in the immediate future. Further completed works include extensive tree planting, esplanade reserves, waterways and streetscaping.

“The popularity of Rodney beaches among the Auckland populous – particularly those on the northern side of the harbour bridge – continues to remain intact, even despite the current economic climate.

“Both the receivers and Bayleys are confident these sites will be bought by a mixture of real estate developers and private individuals wanting to enter the recreation property market at a time when affordability in this sector is at levels we haven’t seen for a number of years,” Mr Pleciak added.

ENDS

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