A luxury home with a ‘Gold Class’ cinema and a plethora of games rooms has sold for a record-breaking $8 million – $2.4m over its CV.
A US buyer snapped up the five-bedroom, four-bathroom property on Ridge Road, in Riverhead, Auckland, in June, with the deal settling in the last few weeks.
The latest sale beats the previous record held by a home on the same street, which sold for $6.5m at the end of last year, according to OneRoof-Valocity records.
New Zealand Sotheby’s International Realty salesperson Natalie Newton, who brokered the deal, said it set a new benchmark in Riverhead’s luxury real estate market and was a sign of growing confidence from international and national buyers who want high-end properties.
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Newton told OneRoof that luxury high-end homes tend to be on the Coatesville side of Riverhead and on larger sections to give owners security and privacy.
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They also fetched higher prices than those in the central village, she said.
The Ridge Road home had a partially covered roof over the inground pool, five living areas including a billiard room and a ‘Gold Class’ home cinema with seven relaxer chairs. It was built in 2008 and had been styled with consideration to the principles of Feng Shui.
Newton told OneRoof last month that more and more people were building luxury cinemas and entertainment zones such as billiard and games rooms, especially in lifestyle residences out of the central city so they can relax at home and avoid the stress of driving in traffic.
The home's 'Gold Class' cinema with seven seats. Photo / Supplied
A partially-covered inground pool added to the home's entertainment factor. Photo / Supplied
She still has buyers looking for large, higher-end homes, but said there was a shortage of those types of properties for sale.
“Currently as you know, there is a lower level of quality homes on the market across all price points with a number of vendors waiting for spring and the election before listing.”
However, she expects to see a big boost in the number of properties for sale from mid-October until Christmas.
Along with Riverhead, Coatesville and Dairy Flat are also popular locations for high-end lifestyle properties. The former Kim Dotcom mansion, now known as the ZURU mansion, on Mahoenui Valley Road, still holds the record for Coatesville’s most expensive property after being bought by the Mowbray siblings in 2016 for $32.5m.
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