A near-new luxury property neighbouring the Coatesville mansion once owned by Kim Dotcom has sold for an undisclosed price.
The five-bedroom trophy home on Mahoenui Valley Road has a CV of $9.2 million and had been on market since September 2022 before being picked up in November last year.
The home borders the sprawling mansion that was once home to controversial internet entrepreneur Kim Dotcom and is now owned by the Kiwi billionaires behind ZURU Toys.
When it hit the market it was touted as one of New Zealand’s best lifestyle properties, with the vendors telling OneRoof in April last year that they had given their architects and designers free rein to create a dream home.
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The listing was with New Zealand Sotheby’s International Realty agent Natalie Newton when the sale went through. The property had been for sale by way of deadline treaty, closing November 23, but the listing was withdrawn and marked as sold on November 17.
OneRoof was unable to reach Newton for comment on the sale.
Newton sold a seven-bedroom mansion on nearby Goldflats Lane in April for $11.5m and currently has several high-end homes in the lifestyle suburb for sale, including a six-bedroom spread with a $12.75m price tag.
Other agents report there is no let-up in wealthy buyers looking for homes in the semi-rural suburb on Auckland’s northern fringe, some of whom sell up in the likes of Remuera to take advantage of the more rural lifestyle while still being handy to town.
The vendors wanted a 16-metre pool, spa and swim spa included in the home's design. Photo / Supplied
No expense had been spared in the build of the home. Photo / Supplied
Some like to build while others like to buy existing homes and renovate.
The vendors of the Mahoenui Valley Road property told OneRoof last year that they had been looking for a home for their son about seven years ago when they stumbled across the 1ha section in Coatesville.
They bought the land and decided to build a new house for themselves. “We liked the location. It was very peaceful, and had a lovely rural outlook,” they said.
The couple, who are in their 80s, said they engaged their friend, Tony Fraser, from The House of Nautica, to design a home for the property.
The result was a beautiful 757sqm lodge comprising five bedrooms, three ensuites, an office, guest toilet, 16-metre swimming pool, spa and a swim spa, extensive driveway, garden, and pool lighting.
A “super home” on Goldflats Lane, in Coatesville, sold for $11.5m in April 2023. Photo / Supplied
The $32.5m ZURU mansion still holds the record for the most expensive property to be sold in Coatesville. Photo / Supplied
They described their neighbours, the three Mowbray siblings, who paid $32.5m for the former Dotcom mansion in 2016, as “lovely” (the Mowbrays’ mansion can even be seen in the background of one of the listing photos).
Caleb Paterson, director at Telos Group, said business was booming in Coatesville where he sells luxury property, often off-market.
He said he has presented over $60m on Coatesville properties over the past three weeks alone, with half of that accounted by for a big development site in Sunnyside Road.
Nearly 49 hectares are on offer with the land earmarked for an upmarket 34 lot subdivision in the sought-after Countryside Living Zone.
Paterson said he had better engagement and enquiry from buyers for Coatesville over the Christmas break than he had for all of the end of last year, and adding that he has had a surprising number of developers interested in developing luxury as opposed to standard townhouses and terraced housing developments.
Sunnyside Estate, a 48.9ha plot of land earmarked for a 34-lot subdivision is on the market for sale in Coatesville. Photo / Supplied
A six-bedroom trophy home at 576 Coatesville Riverhead Highway has a price tag of $12.75m. Photo / Supplied
The Sunnyside development site came on the market late last year and will emphasise a high-end, private and gated rural lifestyle, he said.
“It’s on with me and another agency but I’ve got it under contract at the moment with a backup coming on it.”
Paterson said he was dealing with developers who were looking at areas like Coatesville as getting a better return compared to standard residential developments but he has also had offers on a lot of off-market properties, describing them as large luxury estates.
“To be honest they are all Kiwis looking at buying, looking at moving into the area outside of central Auckland.”
He thinks people have more confidence and certainty currently, and that they have had time to reflect with family about their property goals and are starting to make some decisions.
And most are well-healed. Paterson said one of the buyers he has been dealing with has an “endless” budget.
They have looked everywhere in Coatesville on and off market and are progressing with an offer on an off-market property having realised that while they have the money to build what they want it could be two years before they can move in.
A designer mansion at 546 Coatesville Highway is for sale by way of negotiation. Photo / Supplied
“Now they’ve realised ‘we don’t want to wait to build exactly what we want, we’re going to end up buying something and then tweaking it to our tastes’.”
Another agent, James Bailey from Precision Real Estate, is selling 546 Coatesville Highway with Nicky White.
The luxurious designer home features five bedrooms and three bathrooms on 8050sqm of land, and is getting plenty of interest.
“It’s a brand-new property so that always picks up interest,” said Bailey.
He said there was a mix of people looking at property in Coatesville with plenty of them looking for luxury.
“We have high-end clientele out there looking at beautiful big lifestyle properties. We’ve got people looking at relocating from the likes of Takapuna or inner-city suburbs who just want space and they’re considering building.”
New builds attract buyers who like to have everything completed with shiny bells and whistles but there is also a market of people who want to buy something slightly older and put it through a renovation.
Bailey said Coatesville was affected by last year’s weather at the start of the year but by the middle of the year land sales had started again.
“There hasn’t really been a retraction in price to be honest with you because it still costs you a certain amount to build these places.”
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