It has been described as a developer’s dream – a chunk of rolling, north-facing Waiheke Island paradise.
Known as Thompson’s Point, the 38ha farm has council approval to be subdivided into 25 sites – all with stunning views of the Hauraki Gulf.
Owners Jillian and Colin Devine bought the land, at 306 Sea View Rd, Palm Beach, and an adjoining sea-side strip in the 1980s to farm cattle.
The land has a CV of $5.5 million but a real estate source said its market value would be well above even $25 million. The land would then be subdivided and the sections sold.
READ MORE VIA: NZHERALD