NZFarmer : February 3rd 2009
28 Straight Furrow • February 3, 2009 Property ARMERS and holiday home buyers seeking to pick up a slice of coastal land in the Far North look set to be the big winners from what will be one of the region’s biggest property mortgagee sales. Cable Bay Estates, just east of Kaitaia, was originally planned to encompass 89 residential sec- tions. Development commenced several years ago, however much of the land remains in a bare state. That land is now being sold through the mortgagee process by Bayleys Real Estate. The Cable Bay Estates land liq- uidation sale sees 16 parcels of land, ranging in size from 640m2 (with a current rateable value of $210,000) through to 8300m2 (with a current rateable value of $345,000), up for auction on February 7. The mortgagee auc- tion will take place at the Copthorne Hotel and Resort in Paihia. Bayleys Northland sales consul- tant Chester Rendell said the Cable Bay Estates auction would be one of the biggest multiple-site mortgagee sales Northland had ever had, and is a direct conse- quence of the current economic recession, which has seen numer- ous property developers through- out New Zealand “going to the wall”. “We have had smaller mort- gagee auctions before over the years, offering five or six sites simultaneously, but certainly nothing of this scope and magni- tude,” Mr Rendell said. “While interest is expected to be high at the auction, there is every possibility that there will be some never-to-be-repeated deals seen in sale pricing, at levels 0800 FURROW — 387 769 Mortgagee auction sales hit the Far North F Sixteen parcels of land at Cable Bay Estates, just east of Kaitaia, will be up for auction on February 7 through Bayleys Northland. substantially below the rateable valuations. “Power, water and telecommu- nications services at Cable Bay Estates have already been laid to all sections, while sewerage is available to virtually all of the sec- tions – therefore making the sites instantly accessible for those buy- ers wishing to begin building in the immediate future. Virtually all of the sites have sea views, and there is the potential for some adjoining sites to be combined into larger holdings. “The popularity of the Far North’s beaches among the Northland region’s farming popu- lous continues to remain intact, even despite the current econom- ic climate, and we anticipate a strong interest from this sector at the mortgagee sale,” he said. “Both the mortgagee and Bayleys are confident these sites will be bought by a mixture of real estate developers and farmers wanting to enter the recreation property market at a time when affordability in this sector is at levels we haven’t seen for a num- ber of years. “In years to come when this coastal community is completed and matured, with boats anchored in the bay and a vibrant neighbourhood environment, few people will remember its history. They’ll simply be enjoying the solitude and stunning views.” For further information contact Bayleys sales consultant Chester Rendell, phone 09 407 9221 or 021 964 873. 24 CARAT ABSOLUTE OPITO BEACHFRONT 873 Blackjack Rd, Opito, Coromandel Peninsula Coromandel hills are paved in gold and here´s your opportunity to have a 24 carat nugget on golden Opito Bay. Owned by one family for 50 years, a change of lifestyle has brought this family treasure to the market. Rarely do absolute beachfronts become available at Opito so you will need to move quickly to secure those special ´golden´ memories for your loved ones. And the golden bonus is the proven capital gains. Auction 2pm, Wed 25 Feb 2009 4 Viaduct Harbour Ave, Auckland View Sat/Sun 2pm www.bayleys.co.nz/261411 Mike Harper M 021 984 405 firstname.lastname@example.org MH REALTY LTD MREINZ. A MEMBER OF BAYLEYS REALTY GROUP. VERSATILE BLOCK WITH OPTIONS Bay View, Napier D D 81.107 ha in seven titles Good subdivision D Reticulated spring water to all paddocks D Stock handling facilities D Excellent history of squash production D Stunning, elevated house sites with ocean views Expressions of Interest Close Fri 27 Feb 2009 (unless sold prior) www.bayleys.co.nz/1413579 Gary Brooks M 027 444 3756 email@example.com Glyn Rees-Jones M 027 496 3020 firstname.lastname@example.org CD REALTY (HB) LTD MREINZ. A MEMBER OF BAYLEYS REALTY GROUP. www.bayleys.co.nz DAIRY FARM 100.35 hectares Location, Location This superbly presented and positioned farm bounds Cust village around ten minutes drive west of Rangiora. In eight titles with three road frontages, this fully spray irrigated farm has produced an average of 132,000 kg/ms over the last two years. 32 Rotary shed with full range of modern buildings. Four bedroom plus study permanent material homestead. Rural investments do not get much better; great location, good shape, high fertility, low cost and well improved. For genuine sale. North Canterbury For Sale The Vendors invite offers on or before 12pm, Thurs 26 Feb 2009 View by appointment www.bayleys.co.nz/56359 Bill Whalan M 027 590 9095 B 03 358 5566 email@example.com WHALAN DAVID MURRAY LTD MREINZ. A MEMBER OF BAYLEYS REALTY GROUP.
January 27th 2009