An original waterfront home in Mt Maunganui that has been in the same family for decades is up for sale by tender, poised to break records for the most expensive multi-million dollar sale ever in the Bay of Plenty.

The home was snapped up in 1962 by the owner, Margo Kirk, now 92 years old, who saw it and fell in love with it, and bought it herself even though her husband grumbled, she says.

Back then it cost her “$28,000”, she says.

“That was a lot of money in those days. But to get it, I sold two sections I owned in Whangamatā. I put a sign on them, one for $10,000 and one for $6000. My husband told me I was dreaming, that I would never get that for two bits of land – but they were gone in a week, so I could buy the Marine Parade house.”

The original house purchased in 1962 for $28,000 is set to break records when it is sold. Photo: Supplied.

The property is in prime position on the Mount’s sought-after millionaire’s strip, Marine Parade, right opposite the Mount’s surf spot, Shark Alley and has panoramic views of Mauao and Mount beach.

With its coveted location and untouched 739 square metre site, it could soon become the most expensive residential property sale ever in the region.

“There is high demand for waterfront property anyway, but this location is considered by some as ‘the’ most wanted block. It’s an investment like no other, like a Goldie painting,” said Bayleys agent Sharon Hall who is marketing the property.

The sale of the house would break Hall’s own record when she sold an $11m home in the Mount’s Oceanbeach Rd in 2022, beating the $10.2m sale of richlister Colin Giltrap’s Mount penthouse apartment in December 2021.

Buyers are not put off by the price tag or retro interiors as there is high demand for waterfront houses, say agents. Photo: Stuff.

“People really want these original properties which are typically held by families for generations, so it's extremely rare that one comes available” said Hall.

The owner and her four children had enjoyed many years of “living the dream” gathering pippies, surfing and family holidays, but were now unanimous in their desire to pass on the chance to another, said Margo Kirk.

Margo Kirk, now 92, bought the house 50 years ago. Photo: Supplied/Stuff.

”It was a bit of a party house at the beginning because it was so central, everyone wanted to come and stay. I did cook an awful lot of food. Summers were great there. And you never tire of looking out the window and seeing those changing views and boats and surfers, it’s magic.”

The property was originally a cottage with the title issued in 1963. Then in the 1990s it had additions. It now has three bedrooms and three bathrooms, including a self-contained flat.

The registered value of the property is $10.5m, of that, $9.96m is the land, but the house is expected to fetch north of that.

The high end of the property market in the Mount had been immune to the impact of the cost of living crisis, agents told Stuff, given buyers in that price bracket tended to have cash ready to buy and were not impacted by mortgage rates or inflation.

Matt Power, co owner of Powers Realty, said waterfront homes were highly sought after by buyers who didn’t need to borrow, so prices at that end of the market had held up.

There are signs of a recovery in the market, with house prices set to rise, say experts.

The house for sale is on the Mount’s ‘millionaire’s row’, Marine Parade. Photo: Stuff.

- Anniemarie Quill/Stuff.