Solitude for a cool $1.3m

Island hideaways offer the bare essentials, but they are a good investment. This Rakino Island section is on the market for $1.3 million. Photo / Supplied

A one-room bach with a long-drop toilet and just enough room for a bed is on the market for a cool $1.3 million.

The 18sq m shack on rolling farmland is the epitome of basic, but its location, neighbours and the 4.6ha it sits on have helped the price almost double since 2002.

The Sandford Way section, on Rakino Island in the Hauraki Gulf, is between Home Bay and Fowlhouse Bay, and next door to the exclusive $13,000-a-night Hurakia Lodge. It is one of two properties for sale on the island. The second is almost as basic, for a similar price.

Less than 2km away, on South Pacific Rd, the one-bedroom, "house" is unlined, has no tap system, shower or hot water and has a gravity-feed toilet. However, sweeping sea views and about 4.8ha of land have pushed the asking price to $1.4 million.

Both properties are accessible only by boat, helicopter or ferry, which runs only four times a week, but property expert Olly Newland said they would appeal to many buyers. "Both are idyllic," he said.

"They are ideal for those who love country and seashore life not too far away, those who love solitude, nature, fishing.

"Unfortunately the tree-hugging, butterfly-kissing, sandal-wearing, muesli-chewing, guitar-playing lot usually can't afford them."

After viewing both listings, Newland said the asking prices "seemed okay. But both need a lot more spent on them to build a real home.

"If they haven't sold by autumn they may never sell."

He said the properties would not be a good investment short-term, but the price could be "cheap" compared to what they might fetch in 20 years.

The Sandford Way property sold for just $200,000 in 1996 and $490,000 in 2002. The Quotable Value (QV) is now $1.58 million.

The current QV of South Pacific Rd is $1.65 million - 85 times the $19,000 it sold for in 1982.

Ross Hawkins, from Kellands Real Estate, said the owners of Sandford Way were selling because the property was "surplus to requirements".

"The little bach is very, very simple, it's really just a crash-pad for keeping out of the weather. It was designed to be there to use and get the feel of the location before building a house."

Hawkins, who owns a piece of the 147ha island, said the property was "fantastic buying".

"The greatest thing about Rakino is that it's very unspoiled," he said. "It's like Waiheke Island was 30 years ago. Rakino is a boater's paradise. It's a great getaway but so close to Auckland."

Hawkins said the owners listed the property below its QV because they were "realistic vendors".

"They feel that they're not going to use it and a family could enjoy it."

The South Pacific Rd property is marketed by Stephen Wong from Ray White Birkenhead.

He said the owners needed the funds to "improve their standard of living in Auckland". There had been a couple of offers, but neither reached the owners' expectations.

Another property on South Pacific Rd sold this year for $1.07 million. One on Sandford Way went for $2.7 million.

Only about 35 people live on Rakino Island permanently. The island is subdivided into blocks of about 4ha or smaller, and has no electricity supply.

* Waiheke as well

A sizeable chunk of nearby Waiheke is also for sale - a family farm that hasn't been on the market since 1951.

The 171.8ha sheep and beef farm has a QV of $2.88 million and has a 600-bale haybarn and woolshed.

A three-bedroom, two-bathroom house was built on the Orapiu Rd site in 2004 and the land is home to 1700 stock units.

If you prefer oceanside living, a villa metres from the water in Waikopou Bay might be more suitable. The Cowes Bay Rd property is valued at $3.5m and includes an elevated 4.5ha lot with a building site and views to the Coromandel Peninsula.

- HERALD ON SUNDAY