Papamoa beach sections sell for $4.15m

Mt Maunganui is at the far left, with an impression of how homes could look on the subdvision at the bottom right.

Four Papamoa beach sites sold for $700,000 to $1.3m

A rare slice of Tauranga beachfront property was snapped up fast on the weekend when four Papamoa beach sections worth $4.15 million sold in two hours.

A spokesman for the 24ha Coast Papamoa Beach subdivision near Tauranga said the sections went for $1.3 million, $1.25 million, $900,000 and $700,000 and sold between noon and 2pm.

How residences on the site might look once homes are built there.

The sites were sold from the Coast Papamoa Beach sales pavilion within the development site and people had to line up outside by midday then make offers, he said.

One couple camped out overnight in front of the sales pavilion to get a ticket to get the right to purchase a site, the spokesman said.

Sections in the wider subdivision start from $650,000 and are being sold by Harcourts on behalf of land owner Frasers Property.

"Demand for prime beachfront land saw people camping out overnight and more than $4 million exchange hands in just two hours at an exclusive coastal land release in Papamoa," a statement about the sales said.

So far, 145 sites have already been sold in the wider subdivision this year, ranging in price from $195,000 to $470,000 each. The 145 sites are off Coast Boulevard and are cheaper because they are not beachfront but across the road from the sites just sold, he said.

Kranish Reddy, Frasers Property development manager, said Saturday's activity exceeded his expectations.

In October, a row of pohutukawa trees were felled on Papamoa Beach Rd to make way for a roundabout.

Twelve pohutukawa donated in 2002 were chopped down and mulched and dermatologist Paul Salmon, who donated the trees, expressed unhappiness.

"Obviously I'm gutted," Dr Salmon told the Bay of Plenty Times.

Reddy said Frasers planted the 12 pohutukawa trees 10 years ago, "with a view to later removing them to make way for the final stage of the Coast Papamoa Beach development".

Reddy said the trees were removed with approval from Tauranga City Council to accommodate a new roundabout, footpaths and services.