The land went unconditional at the end of March, and the official handover was on December 4, Mackay said.
He hoped the building would go up for auction on February 28, 2018.
Mackay said the school was lucky to be able to buy and sell an affordable home with the profits going back to the school community.
"Imagine how many sausage-sizzles a school would have to do to raise the same amount," he said.
"It is so lovely for all of those people to be able to give back to the community; it is beneficial for the college and the lucky family who gets to buy the home."
Outside the building contract, the school had budgeted $25,000 to complete landscaping, as well as fencing, curtains/blinds, concrete and laying for driveway and patio areas on normal commercial terms.
Principal Ray Scott said profits from the auction would also go towards future school buildings which included a multi-purpose facility and a performing arts centre.
Dave Goodwin said he and wife Kathy had lived at St Thomas Estate for 35 years and said offering the site to Aquinas College was the "appropriate thing to do".
"We had very good times when we were living and orcharding there. We thought it would be appropriate to give something back," he said.
"I think we would feel very proud to have initiated that project and see it come to fruition for the future generations to enjoy."
Bayleys Tauranga real estate agent Craig Orr said the major drawcard for the home was its location. "Pyes Pa is very established," he said. "The great thing is it is quite close to Aquinas College to which is great for people with kids who go to that school."
He said the house would come fully landscaped, with a new driveway, planting and a concrete patio. "It will be a turn-the-key scenario for the new owners."
HOUSE SPECS:
- Single-level
- Four bedrooms
- Two bathrooms, 1 ensuite
- Comes fully landscaped
- North-facing corner site
- Exclusive subdivision
- Close to Aquinas College
- 577sq m section
