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Property Management

An auction with a difference

VICKI HOLDER gets a taste of the action when one of Auckland’s prime coastal subdivisons goes under the hammer.

Saturday, December 13th 2003

The sections sold in late November during four hours of auction frenzy, but already the first home at Compass Point is on the market for $795,000. Building is expected to start on the new coastal residential subdivision overlooking Auckland’s Half Moon Bay as soon as the titles come through closer to Christmas.

Located on 6.5ha of elevated land fringed by a reserve area on its western side, Compass Point gains panoramic views of the Hauraki Gulf to Rangitoto and Browns Island.

Marketed by Bayleys, a total of 57 sections in the new subdivision earned a cool $37 million for developer St Just Enterprises.

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