Buoyant bidding for historic boatshed

The Property
- One of just 15 historic waterside boatsheds along Evans Bay Parade
- 56.16 square metres (including jetty)
- Has fully-consented toilet, shower and kitchenette with hot water cylinder (residential occupation is not permitted)
- Tenure is licence to occupy via a coastal permit – the current permit is valid until 2032
- Usage, occupation and development governed by rules within the Greater Wellington Regional Council’s Regional Coastal Plan

Quick Look
- National Total Property marketing campaign with auction sale method
- Significant media coverage generated by the Bayleys’ PR team
- Exceptional levels of nationwide enquiry from potential buyers
- 10 active bidders in the auction room with 37 bids recorded
- SOLD under the hammer for $350,000 – believed to be a record price for a boatshed in the region
- Purchased by a local water-sports enthusiast

The Story

After 31 years in the same family ownership, this classically-presented boatshed perched on timber and concrete piles above the water at Evans Bay was always going to be a hit with the public when it came to the market.

Loaded with character and steeped in history, these boatsheds are a much-loved fixture of the Wellington coastline and very rarely come up for sale.

Ethan Hourigan of Bayleys Wellington commercial team – who worked closely with his residential colleagues – says given this scarcity and the novelty value of such a property, auction was deemed the best way to truly establish market value.

“My clients were onboard with this idea from the start and it was really exciting to see the campaign unfold with my phone ringing off the hook from potential buyers,” he says.

“These boatsheds are significant heritage assets for the region and the marketing generated interest from a broad range of buyers – all prepared to be guardians of this piece of Wellington’s history.

“I’m pleased to have set what is thought to be a new record for the sales price of a boatshed along this strip and the result is testament to a carefully-implemented marketing strategy that created genuine and motivated competition.”

Vendor Comment

Family spokesman, Wayne Perry, says despite the modest value of the boatshed property, they experienced Bayleys’ service philosophy at its finest.

In winding up their late brother’s affairs as executors of his estate, Wayne and Callum Perry agreed that Bayleys was the best team for the job.

Blending expertise from both the Wellington commercial and residential teams, the multi-faceted Bayleys’ campaign left them in no doubt that all potential buyers were aware that the boatshed was for sale.

“Ethan presented a comprehensive marketing plan and timeline that set out what needed to be done from our end and then he took charge of the rest.

“We didn’t feel under any stress or pressure and Ethan went about it in a calm and confident manner.

“On his recommendation, we applied for an early renewal of the Coastal Permit, which was great advice as the permit is now valid through until 2032 which gave certainty to potential buyers.”

Regular updates as the campaign progressed saw excitement grow as interest rolled in from all around New Zealand.

“I felt we were getting far more effort from the team than we could expect given the relatively small value of the boatshed, but Ethan insisted it was the Bayleys way.

“No half measures and everyone gets their total attention.”

The reserve was quickly blown out of the water on auction day and the atmosphere was upbeat.

“There were a couple of real characters bidding so there was some humorous banter with the auctioneer,” says Wayne.

“At the fall of the hammer, the record price resulted in a huge round of applause - my late brother would have been quietly very proud and the beneficiaries to his estate will be delighted.”

Subscribe to receive the latest commercial news and insights from Bayleys Total Property