A $3.4 million vacant cliff-top section left bare after a top sportsman's award winning house burned down is for sale in one of Auckland's most exclusive suburbs.
The rare 2246sq m Campbells Bay section is being sold under its CV of $4.26m and at 35 per cent less than a recent market valuation that priced the section at more than $6m.
The previous home burnt down three years ago due to a suspected barbecue fire and the owners, Tony and Jenni Ebert, both award-winning weightlifters, have since moved on.
Tony Ebert won gold at the Commonwealth Games in Christchurch in 1974 in the men's middleweight division. Four years earlier, at Edinburgh, he won silver. He also competed at the 1972 Summer Olympics in Munich
The Eberts declined to comment about the property listing.
However, Harcourts marketing agent Damien Henaghan said the property was now surplus to their requirements. The owners were motivated to sell, he said.
The Eberts lived at the Beach Rd property for 27 years until their award-winning Japanese style house burnt down in January 2015.
"They never got around to rebuilding it and they've moved on and are selling it to the next person."
The property listing describes the Beach Rd section as "an absolute bargain" and Henaghan said new properties in the area would easily have a $7m price tag.
The largely flat section, accessed by a long driveway, has impressive views over the Hauraki Gulf.
"It's perfect for America's Cup. It's big, it's on the North Shore and it faces north," Henaghan said.
"It would be good for anyone who can afford to build a big beautiful home there."
Henaghan said Beach Rd was a multimillion-dollar street.
"You wouldn't' get any spare change under $5m or $6m for a new home there. In fact a new home being built there you would probably be looking around the $7m, $7.5m. That's the calibre of real estate we are dealing with."
The size of the section could also lend itself to a possible subdivision.
CoreLogic head of research Nick Goodall said it was a relatively unique sale.
"The most unique thing is probably that it's a vacant section in Auckland – there aren't too many of those and certainly not with the location and size of this one."
"In the past 10 years there had only been 39 sales of sections sized between 1500sqm and 3000sqm for more than $2m and many of these were zoned for multiple properties."
The most expensive section in this range was 20 Crescent Rd, Parnell, which sold in May 2016 for $9.25m.
The median value of residential properties in Campbells Bay is $2.03m and prices have risen 2.8 per cent in the past year.
The latest QV statistics showed Campbells Bay was one of five $2m suburbs across Auckland.