Unit in Ōhope's Horizon Apartments sells for 'record' $1.17m at auction

The apartment complex has an infinity swimming pool and a lap pool. Photo / Supplied

An apartment in Ōhope Beach with "fantastic views" has sold for $1.172m under the hammer.

The three-bedroom, two-bathroom apartment at 6/232 Pohutukawa Ave in the Horizon Apartments.

Ray White Ōhope salesman and former Whakatāne mayor Tony Bonne said there was a lot of interest in the apartment, partially due to its size and location.

"It is in central Ōhope and it is big. It was more of a home than an apartment," he said.

"It is a record price for the Horizon Apartments. It was just a lovely apartment, we marketed it well and got the interest."

Bonne said there were four registered bidders and two active bidders on the day.

"The first offer came in at $1 million so immediately two of them backed off.

"Auction is definitely the way to create the best value on the day."

The successful buyer was from the Waikato, he said.

The apartment is located at 6/232 Pohutukawa Avenue. Photo / Supplied

The online listing states the 138sq m apartment has three of its walls with views, with "bush one side and ocean on the other".

"Space and privacy together make this apartment unique. Four of its sliding hush glass doors open up to a huge 36sq m covered outdoor deck," it said.

"Just visualise that afternoon sundowner on the deck, swimming in the recreational infinity swimming pool, working out in the gym, having a game of tennis with friends on the turf tennis court, having a sauna at the end of the day or meandering over for a stroll or swim at Ohope Beach."

Located on the western end of the apartment complex, it is just a short walk to the local Four Square, Maraetotara Reserve and other local amenities.

REINZ chief executive Jen Baird said Ōhōpe and other beachfront destinations had risen in popularity and price over the last couple of years.

"We have seen a trend of buyers moving into the regions and away from main city centres as a reaction to Covid-19 and the search for property more suited to their lifestyle, particularly as businesses become more flexible with remote working," she said.

This apartment was the third to sell for $1m or more in Ōhōpe within the past 12 months.

Baird said this highlighted the "increasing demand and competition" for apartments in the area.

Horizon Apartments body corporate chairman Doug Young, who was at the auction, said people were drawn to the apartment complex because of the "fantastic views and beautiful location".

"It went for really good money, as the body corp chair I am happy with the result we got," he said.

Generally, he said the apartments attracted those in "pretty good health, but at a later age".

"They don't want to go into care, but they are looking for somewhere where the grounds are done, the pools are done. That is what attracts a lot of people."

Young moved into the complex 15 years ago, paying $675,000 for his apartment.

"Ōhope is a special place. All your problems just go away when you see that seaview coming down the hill."