Beachfront land reaches 'record price'

A waterfront headland in the Bay of Islands with two houses has sold after being marketed at $10.39 million.

But neither Jan Madden of Century 21 in Paihia nor Dianne Wynyard of the agency's Russell branch could say precisely what price the property, 2km from Russell, had fetched.

Both vowed it was a record and said the deal was unusual because everyone involved lived overseas.

"This is an outstanding result considering the challenges that had to be overcome dealing with vendor and purchaser who were both overseas at the time," Jan Madden said. A New Zealander bought the property at Matauwhi Bay, she said.

To read the full NZ Herald story, click here

Posted: 24 Oct 2008

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