Yes, you read that correctly. The reserve is set at just $1 (ONE DOLLAR). When the hammer falls, the highest bidder owns it.
ONE DOLLAR RESERVE AUCTION
Wednesday 8 July 2026 at 1:00pm (No Prior Sale)
In Rooms, Harcourts Paeroa, 121 Normanby Road, Paeroa
This is not your typical property opportunity. Whether you're a builder, renovator, house mover, earthworks contractor, bargain hunter, clever entrepreneur, or someone looking for what could be the most affordable opportunity to get onto the property ladder, this is your chance to secure a property that will be sold on auction day.
Two Titles: SA702/109 being 1.2851 hectares more or less and SA781/21 being 521 square metres more or less
Bring your vision, expertise, and due diligence. Assess the opportunity, explore the possibilities, and determine how this property could work for you.
Council Letter May 2026: "Following a rapid building assessment in February 2026, the property received a Yellow Placard designation. After remedial works were undertaken, Hauraki District Council re-inspected the property and subsequently removed the placard, deeming the dwelling safe to occupy."
The property has been stripped of affected flood-damaged materials, providing a blank canvas for purchasers to repair, renovate, rebuild, relocate, or completely reimagine the future of the site.
Conveniently located just three minutes from Paeroa township and six minutes from the Karangahake Gorge, opportunities like this are rarely presented with such clear instructions: it will be sold.
DISCLOSURE
Purchasers are strongly encouraged to undertake their own investigations and seek independent advice from council, insurers, engineers, builders, and any other relevant professionals before bidding.
The property has a known history of flooding and flood-related damage, including the February 2026 event. The vendor has lodged and settled insurance claims in relation to this event.
The property is being offered for sale strictly on an "As Is, Where Is" basis.
An information pack, disclosure documents, and available property files are available upon request. Prospective purchasers should satisfy themselves as to all aspects of the property and rely on their own enquiries before bidding.
