A luxury Hamilton home that attracted interest from as far as the Middle East has sold to a local buyer for more than $4 million.
The multi-award-winning property on Braid Road, in Saint Andrews, is in rare company. It is one of only a handful of homes in the city to break the $4m barrier, although Bayleys listing agent Rachel Waldegrave said the price fell short of breaking Hamilton’s house price record of $4.85m.
Waldegrave said there had been a “massive response” for the property since it hit the market in February, but for some, the price bracket was too high.
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“It can take a bit longer to uncover the right buyer because not many people can afford a property at that level,” she said.
“Buyers were coming from Hamilton, but also nationally and internationally. We had people enquiring from Singapore and Australia. We also had a couple from the Middle East.”
Much of the offshore interest came from expat Kiwis looking to buy properties for themselves or their families, she said.
Homes with water views such as this one on Braid Road fetch premium prices. Photo / Supplied
The home ticked all the boxes including being architecturally designed and a high-quality build. Photo / Supplied
The eventual buyer was a local, from the Waikato, which Waldegrave said was not uncommon due to there being a lot of discreet wealth in the region.
“I think that’s a great signal for Hamilton in terms of the quality of the top end of the market and the fact that locals are buying at that level.”
The house deserved the high price, she said, because of the quality of the build and location (it offered 180-degree views of the nearby golf course and Waikato River).
Renowned Hamilton architect Noel Jessop and prestigious Waikato builder CJW Build were linked to the build.
“It really was a property that ticked all the boxes if you were looking for a premium residential property in Hamilton.”
A half-finished home on River Road overlooking the Waikato River is being sold as a mortgagee sale. Photo / Supplied
It didn’t have a pool, but Waldegrave previously told OneRoof the 1656sqm section allowed plenty of room to add one.
The owners were also pleased to have the property sold and move on with their plans, she said.
Another house expected to fetch around $3m once finished is a partially completed build at 1027 River Road, in Queenwood, which is being sold as a mortgagee sale.
The property, which also boasts river views and has a pool, is structurally complete, but a bare shell inside.
Waldegrave said the property had attracted plenty of interest and again showed the appetite for high-end riverside location and architecturally designed quality build.
“The river and the lake are like our waterfront properties here in Hamilton so just the same as if you are on the coast – if you are beachfront you are going to command that premium price – it tends to be those properties that either have access or views over the river or the lake that sit at the top end of our residential market.”
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