A Mt Maunganui beachfront home has sold for a record $4 million in the western Bay of Plenty - pushing the local housing market to staggering new heights.
Monday, June 7th 2004, 8:07AM
by The Landlord
A developer paid nearly double the valuation of $2.2 million for the house and 675 sq m section on the corner of Banks Ave and Marine Parade.
The house, which was bought by Pat and Patricia Stott in 1960 for £18,000, will be demolished to make way for an apartment complex.
