The Auckland mansion that once belonged to former Auckland mayor and Act Party leader John Banks has hit the market for sale.
The grand four-bedroom home at 31 Victoria Avenue, in Remuera, is looking for buyers who are willing to shoot past the property’s 2021 CV of $7.3 million.
Barfoot & Thompson listing agent John Zhang, who is marketing the home with colleague Louissa Bao, told OneRoof: “Seven million is not enough.”
He said similar-sized properties in the wealthy suburb were selling for well above CV, citing the December sale of a mansion on Shore Road for $12.79m – almost double its CV.
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Zhang told OneRoof most of his buyers were shopping with budgets of $8m or more. Some had funds ready to go while others were asking for longer settlement times of up to 12 months.
“I’ve got a couple of buyers, they don’t have the problem of money, they don’t have financial problems.”
He said homes on Victoria Avenue always attracted good interest but the former mayor’s home stood out. “The Spanish design sets it apart,” he said.
The mansion was built in 1920s by architect Horace Massey for retail magnate John Robert Rendell, owner of the then famous Rendells Department Store.
Former Auckland mayor John Banks at the Victoria Avenue home in 2011. A year later he sold the property for $4m. Photo / Richard Robinson
The residence is a standout on Victoria Avenue and has attracted interest from wealthy buyers. Photo / Supplied
Zhang said some of those who had expressed interest in the property were keen on making minor modifications. “It’s a very good kitchen, but I’m told that when John Banks had the house there was a lift, which was taken out to do the kitchen, so someone might like to restore that,” he said.
Banks lived in the home while mayor of Auckland and sold it in 2012 for $4m. The house made the headlines in 2016 when former Labour minister Phil Goff put up an election billboard there during his tilt for the city’s mayoralty.
The vendor told OneRoof the house held a special place in his family’s heart. “What stood out to us when we bought this property almost 10 years ago was that, even from the street, it told a story. It’s been wonderful to have become part of the home’s story,” he said.
The homeowners have hosted many events at 31 Victoria Avenue, including Chinese New Year celebrations which high-profile guests like former Auckland mayor Phil Goff have attended. Photo / Supplied
“Our children grew up in this home, and the house has always been filled with people. There’s enough room for the kids to be kids with the wide-open spaces outside and of course the pool, but we’ve all had plenty of space.
“We’ve hosted many events here including many Chinese New Year celebrations which guests like Phil Goff have attended over the years … it’s been a wonderful home to share with other people.”
He said now that his children had grown up, the family was looking to downsize. “Our daughter lives in Sydney now and our son will move there soon, so it’s with heavy hearts that we have decided to leave this beautiful home,” he said.
The property is one of several grand mansions available to buy in Remuera. On May 18, a five-bedroom Arts and Crafts estate at 226 Remuera Road goes under the hammer at Ray White, hoping to break the country’s auction sale price record of $12.8m.
New Zealand Sotheby’s International Realty has a 712sqm mansion with a CV of $25m for sale at 298 Remuera Road, while agent Terry King has a mansion at 532 Remuera Road asking $32m.
- 31 Victoria Avenue, in Remuera, Auckland, is for sale by way of tender, closing May 8
