One of New Zealand's most expensive properties listed for sale goes under the hammer next month.
The agent charged with selling Te Rere Cove Estate on Waiheke Island says New Zealanders should expect an auction like no other.
Bayleys sales agent Clive Lonergan and Te Rere Cove Estate owner David Parkinson, say the event will be conducted on site "to make sure you feel the emotional connection".
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Lonergan says Parkinson had decided to take the 139,000sqm property to auction, scheduled for October 19 at 12pm, to shake things up.
"The estate has been on the market for six years now and during that time it has had five offers from overseas buyers, all of which have either been rejected by the Overseas Investment Office or withdrawn their offers in frustration at the high costs of submitting an application."
Parkinson, a British-born businessman, said he recently had the property valued by Andrew Buckley of Seagars "and it came out at $24 million, conservatively".
"We've had a lot of serious interest and I'm trying to force the issue by going to auction."
The house was designed in an early New Zealand colonial style by Waiheke architectural designer Bryce Ardern. Parkinson said in 2011 that it was partly inspired by Kauri Cliffs, developed by American billionaire philanthropists Julian and the late Josie Robertson.
Marketing for the estate said the interior featured French oak, limestone sea shell tiles and granite with decor styled by interior designer Anna Desbonnets.
The ground floor has family living, designer kitchen, art gallery, alfresco dining area, conservatory, indoor heated swimming pool,home theatre and air conditioning.
A self-contained wing has four bedrooms, a kitchenette/lounge and home theatre/media room.
Upstairs in the main house is a master bedroom suite with balcony, two en suites and dressing rooms, kitchenette and a concealed library/TV snug.
The most expensive property sold at auction in New Zealand was Cook Street Depot in central Auckland, now the site of Al Brown's Best Ugly Bagels and Odettes restaurant. The property sold for $43.5 million in 2008 at a Bayleys auction.
