- A half-finished six-bedroom mansion in Coatesville sold at auction, offering buyers a chance to complete it.
- The property, in a prestigious gated community, was sold "as is" after a $2.25 million bid.
- The mansion features plans for a 665sqm home with extensive amenities, including a pool and helicopter pad.
A half-finished Auckland mansion next door to some of the most expensive homes in New Zealand has sold under the hammer.
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The sprawling six-bedroom home, which is an empty shell inside, sits on more than 1ha in Coatesville's "prestigious" gated community, Park Gate, and was offered to buyers at a Harcourts Cooper & Co's auction this week.
Auctioneer Andrew North told the auction room on Thursday that all “the grunt work” had been done next door getting 5e The Promenade out of the ground, but the home was unfinished, leaving the opportunity for new owners to complete the dream their way.
The property is a shell inside. Photo / Supplied
An artist's impressions of what the completed home could have looked like were displayed on the wall frames in photos from a previous listing for the property. Photo / Supplied
The property was, he said, “in arguably one of the best locations in the entire country, surrounded by high-net-worth individuals. It is a premier location where over-capitalisation is virtually impossible.”
“It is in a location surrounded by multi, multi, multi-million-dollar neighbours. This is something you are going to find incredibly hard to find all over again.”
Next door neighbours include the luxury mansion formerly occupied by internet entrepreneur Kim Dotcom and bought by the ZURU Toys billionaire siblings for $32.5 million in 2016.
The property was being sold "as is", with bidders told they would be buying it unconditionally and would have to complete their own due diligence.
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There were no chattels, North said, adding that the new owner would “need to take care of those moving forward".
“It’s set up to be a 600sqm home offering you a ton of space. Everything is bigger out in Coatesville, and we are giving you a big, high-quality life moving forward."
The auction kicked off with a vendor bid of $2m followed by a bid of $2.1m from the floor. The auctioneer made another vendor bid, of $2.2m, which a bidder in the room pushed up by $50,000 to $2.25m.
This was followed by a pause in the proceedings and after negotiations the property went unconditional.
The property was marketed by listing agents Lewis Guy and Dave Williams. Guy confirmed the sale on Friday.
The half-completed house sits on 1.02ha of land in Coatesville's prestigious gated community, Park Gate. Photo / Supplied
The property is close to the Coatesville mansion formerly occupied by Kim Dotcom and bought by the owners of ZURU Toys in 2016 for $32.5m. Photo / Supplied
OneRoof wrote about the mansion in June last year when it was on the market with a different agency, reporting that the building work had stopped before Covid.
The article reported that the vendor bought the site in 2007 for $845,000, obtaining consents to begin building work in 2015. According to the listing agent, the vendor was selling due to a change of situation.
The listing photos showed that while the foundations, roofing and exteriors were largely done and the building closed in, the interiors were empty and still at the framing stage, with two photos showing what appeared to be an artist’s impression of a finished home, complete with landscaping and an outside pool.
According to that listing, the vendors had intended to build a “magnificently designed” 665sqm home, with six bedrooms, five bathrooms, three living areas, a games room, a study, and an outside swimming pool. The listing said there was also a landscaping plan for extensive decking of 275sqm with a game room.
The new listing, with Guy and Williams, asks potential buyers to imagine hosting elegant dinners in the grand dining room with “soaring” 4.2m ceilings, or relaxing in one of the three living areas, or entertaining on a two-tiered deck overlooking the grounds.
The planned layout included an “enormous” kitchen space with a scullery, and a wine cellar.
Outside, there was the option for stunning landscaping, a pool and even a helicopter pad, the agents said.
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