A cliff-top house in Auckland’s sought-after Glendowie sold at auction today for $5 million, as three bidders pushed the price to $1.1m over the reserve.
It had been 100 years since the Riddell Road property, which has direct access to Karaka Bay, was last on the market.
The Bayleys agent who marketed the property, David Nightingale, told OneRoof that “buyers didn’t want to wait another 100 years for it to become available again".
“There are good views, but this is a rare property. The buyers, a family who live locally, knew the value of the real estate, they had good knowledge," he said.
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“The property can be transformed over time and will only add value.”
The current owner, Graeme Emerson, built the five-bedroom, 326sqm house in the 1980s, wrapping its three levels around an earlier 1945 home to make the most of the spectacular views.
The house had spectacular views over Karaka Bay, Auckland, to the Waitemata. Photo / Supplied
The 761sqm cliff-top site was bought by Emerson’s grandfather in 1921 and had a council valuation of $2.75m.
Nightingale said that over 40 groups of buyers had seen the property before lockdown began, with several pre-auction offers being turned down. The auction date, extended after lockdown was announced, was brought back to this week after a $3.9m offer was accepted.
Four bidders registered, and three were actively bidding with the help of agents as Bayleys national auction manager Conor Patton called the auction from his living room. Nightingale said that lockdown timing prevented several other buyers, with budgets of around $4m, from being ready for auction.
The house, which had been in the same family for 100 years, was built in the 1980s around an early 1945 home. Photo / Supplied
“It just shows you that good real estate sells in any market, that’s the reality of today. The buyer is just ecstatic, the vendor’s only regret is that today would have been an absolutely stunning day to do the auction on-site as we'd originally planned.
“We’ll just have to crack out the champagne remotely.”
For the vendors, it will be hard to say goodbye. With the exception of several years in Wellington, Emerson has lived at the address since his birth.
“Karaka Bay beach is a two-minute walk away down a track that my grandfather built and landscaped himself to get the horse and supplies up to the property,” he told OneRoof last month.
“The grandchildren and great grandchildren have spent so much time on that beach and swimming from the pontoon. The location is spectacular.
“It’s always been peaceful, there’s no main road through Glendowie. There are great restaurants and St Heliers is only minutes away. The waterfront drive to the city is my favourite, and the beaches and parks in the immediate area are brilliant.”
- Additional reporting Gabrielle Nooijen
