No reserve on waterfront property
Waterfront land & a no-reserve auction aren’t often matched up, but they will be on Wednesday 22 June when a Weymouth property goes under the hammer at Bayleys.
Monday, June 20th 2005, 6:43AM
by The Landlord
The property at 7 Lawson Way has a 4-bedroom home set on 1072m² of absolute waterfront land. It’s down a short cul-de-sac on Te Pua Pt, at the tip of the Weymouth peninsula on the northern side of the entrance of the Pahurehure Inlet into the Manukau Harbour.The tide is down a few steps in the sea wall and a yacht could be moored in the Waimahia channel 150m away.
Bayleys’ senior auctioneer, Richard Valintine, said no-reserve auctions were rarely conducted in New Zealand: “In fact, we’ve only ever done one other no-reserve auction in our Auckland auction rooms, which was for a waterfront property in Howick a few years ago. Not many people have the confidence to present their property to the market without the safety net of a reserve. In this instance, the vendors are leaving it entirely open to the market to determine the value."
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