A Hamilton family has splashed out an eye-watering $4.85 million on a riverside home after falling in love with it during an impressive launch party for the property, which more than 100 people attended.
The expansive property on Pollock Drive, in Chartwell, is now the most expensive residential property in Hamilton City to sell after beating the previous record of $4.605m broken at the end of 2021 by a modern waterfront property on Lake Crescent by Hamilton Lake.
The only sale above $5m was when former Hamilton mayor Andrew King sold his Liverpool Street bungalow for $5.5m in March 2021 for development purposes.
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The luxury lodge-style property, which Harcourts listing agents Yvenna Yue and Craig Annandale had declared the nicest house in the city at the time of listing it, sold unconditionally at the end of a three-week tender process that saw multiple offers tabled.
Yue said it was a “huge” price for a residential property in the city and showed there were local wealthy buyers just waiting for the right property to come along.
The five-bedroom, five-bathroom property had an indoor pool, gym, a games room with commercial-style bar and separate self-contained unit.
The schist stone and wooden exterior gave the property a luxury lodge vibe. Photo / Supplied
It also had an elevated location looking out to the Waikato River and across to Beerescourt, which she had earlier likened to as being the king in Game of Thrones.
Before hitting the market, the property had just undergone a seven-figure renovation by high-end interior designer Bronwyn Turton, of Turton + Oliver Interior Design. The impressive upgrade included a brand-new kitchen with Miele appliances, walnut cabinetry and a Taj Mahal sensa stone bench, herringbone flooring, wool carpet and tiled bathrooms.
The property was spread over two titles and had a combined RV of $3.56m, but Yue said that did not factor in the recent makeover.
The home attracted a massive amount of interest from buyers in Hamilton, Cambridge and even Auckland.
There's also a resort-style pool complex complete with a gym and sauna. Photo / Nicole Troost
The home has just undergone a massive seven-figure renovation which included a new kitchen with Miele appliances and new bathrooms. Photo / Nicole Troost
The launch party for the expansive 3231sqm property saw more than 100 people turn up including the local Hamilton family who ended up buying it.
The agents then spent the next three weeks showing a lot of qualified buyers around the large property with viewings taking between one and two hours. “It was such a big house.”
The fact that the property was single-level and had a unique feel with the schist stone and sleepers also appealed to buyers.
Record-breakers: Real estate agents Yvenna Yue and Craig Annandale. Photo / Alan Gibson
The new owner had even described the property as having aged well like a fine wine. “He said that as soon he saw it, he knew this was the one.”
The home was originally built in the 1950s for the Waikato University and had evolved over the years as various high-profile owners added their own touches to it.
It threatened to break the city record last time it was on the market in 2016, but fell short and ended up being bought by Hamilton developer Jason Barnes as his own home for $2.5m. Barnes had now decided to sell the property and downsize.
Last week, a mansion in Fendalton became one of Christchurch's two most expensive properties after selling to a local Christchurch family for $8m. The Wood Lane property sale made it a joint record breaker with a property on Wairarapa Terrace, in Merivale, which sold in an off-market deal in 2021 for the same price.
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