KEY POINTS:
One of the biggest, most exclusive Bay of Islands properties near the waterfront failed to sell when it was auctioned in Auckland this week.
Bayleys offered a huge slice of Mataka Station, a subdivided rural property on the Purerua Peninsula, outside Kerikeri north of Waitangi.
For some years,
multimillionaires have been selling parts of the coastal block on the historic headland north of Paihia. Mataka, neighbouring Peter Cooper's subdivision Mountain Landing, is virtually surrounded by sea and has many private, white-sand, pohutukawa-fringed beaches.
The station is also home to the historic Marsden Cross, which marks the site of the first Christian sermon to be delivered in this country after the landing on Christmas Day in 1814 by the Rev Samuel Marsden.
Calls in 1999 for the Government to buy the farm failed when it was put on the market by evangelist Bill Subritzky, who had opened it up for Youth for Christ camps for 15 years.
Bill Birnie, a $100 million rich-lister, and barrister associate Evan Williams have been selling parts as luxury hideaways for the conservation-minded wealthy. They also have Living Nature, an organic cosmetics business.
A 53.5ha section - advertised as the single largest lot at Mataka - was offered on Wednesday at Bayleys' Viaduct Harbour offices but bidding was well short of the mark. The land is hilltop and some way from the beach.
The Government valuation on the property is $2.5 million. Scott Cordes, Bayleys communications manager, said bidding opened at $1.3 million and went up in one hit to $1.4 million.
"The auction did not reach the reserve and has been set aside for further negotiations with the highest bidder," he said.
The vendor's instruction was clear: "Priced to sell below GV and will meet the market", the agency said in advertising.
Mataka was recognised as New Zealand's best rural waterfront real estate and the site had breathtaking scenery, the agency said.
The station has a beach lodge, boat launching, hiking, horse riding and many kiwi.
The land being offered is also part of the 1148ha working farm.
Bayleys agent Michael Pleciak said the $2.5 million was "a bargain" because other lots on the conservation estate have sold for more than $3 million.
"It's a fantastic setting and the owner has been clear that he will meet the market price," said Pleciak.
Buyers, he said, were offered access to the entire farm, which included private beaches, boat-launching facilities, hiking and horse riding.