Century-old Kauri cottage with yellow sticker looking for brave buyer

A beautiful, 115-year-old, Kauri cottage with rural and sea views has hit the market in Mangapai with just one catch, it’s been yellow stickered and will be a bargain price for the highest bidder.

Located at 3 Panekaira Road, the stunning 1.22ha lifestyle block is being brought to market by Ray White Whangarei’s Sandie Kirkman and Rae Ocean, on behalf of the vendors who brought the property in 2022. 

“They purchased June 2022 and six months later the landslide occurred,” Ms Kirkman said. 

“They had already completed a lot of labour of love in that time to make their plot of land beautiful with wonderful gardens, and had just completed a little studio they were going to use as a bed and breakfast, when the damage occurred. 

“After buying their dream property for their retirement, they are obviously heartbroken by the damage, and have decided it’s time to sell.” 

The damage occurred from a landslip in November 2022, plus further damage from Cyclone Gabriel in February 2023. 

“The home itself sustained minimal damage, but all the same has been yellow stickered due to the landslide damage not yet being fully remediated,” Ms Kirkman said. 

“The deck off the lounge had to have a pile cut to prevent further strain on the rest of the deck. 

“The owners also removed the original brick kitchen chimney and fireplace indoors to be on the safe side.”

Despite the damage, Ms Kirkman said there was still plenty of opportunity with the property. 

“The opportunity now is to remediate, stabilise the land, relocate the house, and/or do something else with the land,” she said.

“This will suit buyers with the ability to make amendments to the property and who want to get a cheap lifestyle plot of land, to fix up and live on, or potentially sell on for a profit.” 

While the property may have a yellow sticker, it’s still able to receive buyers through open homes. 

The property is set to go to auction on June 19 and is being offered “as is, where is”. 

“The vendors are realistic and understand the damage reduces the value significantly,” Ms Kirkman said. 

“It will be a bargain price for the highest bidder.”