One of Hamilton’s best homes on its poshest street has sold for $2.57 million – making it one of the city’s most expensive residential homes to sell in the past two years.
The property on Awatere Avenue, in blue-chip Beerescourt, sold under the hammer at Bayleys’ Hamilton auction room on Thursday with six bidders placing a total of 24 bids.
Bidding for the four-bedroom, three-bathroom home opened at $1.8m before pausing at $2.48m. The auction resumed at $2.5m when the property was announced on the market. Several buyers continued to push the price up until it finally sold under the hammer for $2.57m.
Bayleys listing agent Rachel Waldegrave said it was one of the highest sale prices in central Hamilton in the last two years.
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“It’s got to be up around the very top prices that have been achieved certainly recently. I think given that we’ve been told we are in a recession and things like that, it’s good news for Hamilton that there’s confidence from people and that there are buyers keen to come in and snap up some of our top-quality properties that we can offer.”
Last month Lugtons sold a waterfront home on a large 6196qm section on River Road for $4.75m – making it the most expensive home to sell in the city in the past 24 months.
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But Waldegrave said the Awatere Ave and River Road homes were extremely different properties with the River Road property having seven times more land.
“It’s a huge difference selling a 6000sqm block to an 800sqm block. I would say it’s certainly a significant sale and a great positive sign in that the premium properties are still achieving great sales prices.”
Waldegrave previously told OneRoof that while the Awatere Ave home was one of Hamilton’s nicest homes, it didn’t mean it would be the most expensive.
“We’ve had some big sales recently, but they have involved very big pieces of land ... but if you are looking for a beautiful family home in the city, I would challenge you to find anything nicer. It’s beautiful, it’s a real stunner.”
The home has wide views of the Waikato River. Photo / Supplied
Outside is a covered area, outdoor fireplace and inground pool. Photo / Supplied
The new owners are a Hamilton family, but the other interest bidders included buyers from Singapore, the US and Auckland.
“Yesterday right up until the auction finished I couldn’t have said to you which of those buyers was going to end up being the purchaser because it was pretty fiercely contested, which is fantastic from a sales point of view, and it did come right down to the wire.”
The current owners purchased the property for $950,000 in 2008 and enlisted LAD Architecture to create a stunning family home overlooking a wide stretch of the Waikato River.
Other impressive features included a soundproof media room, a LouvreTec-covered deck with outdoor fireplace, and an inground pool.
“They really did a beautiful job and I think that's been recognised by the people coming through. It's quite rare to find that character property that’s been beautifully remodelled and just so tastefully done. Preserving the character, but giving you all the modern conveniences that you would like to find in a family home.”
Waldegrave had earlier indicated the property would sell “definitely north” of its $1.9m RV.
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