An American-inspired “super home” in Auckland's Coatesville, complete with a two-level studio that's the same size as an average family home, has sold for $11.5 million.
The five-bedroom, seven-bathroom home on Goldflats Lane is the second-ever most expensive property to sell in the high-end suburb that is now rivalling the posh inner-city suburbs in terms of prices, according to OneRoof-Valocity data.
The former Dotcom mansion on Mahoenui Valley Road, now known as the ZURU Mansion famous for hosting star-studded parties, still holds the top record for the most expensive property after it was bought by the Mowbray siblings in 2016 for $32.5m.
The impressive Goldflats Lane sale price, which has only recently become publicly available despite selling in May, is $3.55m more than its rateable value of $7.95m.
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New Zealand Sotheby’s International Realty agent Natalie Newton was unable to comment on the details of the Goldflats Lane sale due to privacy reasons, but said it was a “beautiful” property that attracted both international and local interest.
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The smart home underwent an extensive renovation in 2021 and, according to the listing, the “American-styled super home” boasts a grand entrance with a sweeping staircase and Moooi chandelier, chef's kitchen, soundproof entertainment room, and six-car garaging on a 2-hectare lifestyle block.
There was also a 230 sqm two-level studio, oversized heated pool and pool house.
As well as attracting overseas buyers, people are also moving from the central city suburbs to Coatesville as they chase more space, privacy and a bigger home.
Newton said Coatesville is continuing to gain popularity with buyers who want the privacy offered by the 1ha-plus lifestyle blocks.
The house was renovated in 2021 and includes a chef's kitchen with butler pantry. Photo / Supplied
“A lot of Kiwis used to like that quarter acre, now they like that 1ha in Coatesville.”
Several homes built about 10 years old by people with larger families are on the market now that the children have left home, and will appeal to other families looking to upsize, Newton said.
“Coatesville is still seen as having some of the best schooling, and the best community,” she said.
“Generally, people want a little bit more space and a little bit of a bigger house for their money and they are certainly getting it. Coatesville prices are certainly holding their own around the Herne Bay prices.”
The property has an oversized heated pool and a pool house. Photo / Supplied
Coatesville is now considered New Zealand's most expensive suburb with an average property value of $3.812m, according to OneRoof data.
The cost of a 1ha section is about $1.2m plus the value of a house, but some older style homes towards Riverhead are more affordable than newer homes in central Coatesville that come with heftier price tags.
Precision Real Estate salesperson Nicky White said there are still quite a few deals happening under the radar, especially in the higher end of the market as people try and protect their privacy.
“There are some beautiful homes here. It is a bit soft at the moment, but it's just the market. Coatesville as I've always maintained will hold its value and increase year-upon-year long-term better than anywhere and it's proved that over the years.”
The $32.5m ZURU mansion still holds the record for the most expensive property to be sold in Coatesville. Photo / Supplied
Buyers with a $10m budget had their choice, she said, including some stunning homes that may be sold off-market.
White is currently selling a six-bedroom, five-bathroom home with a pool house and minor dwelling at 21 Mahoenui Valley Road in central Coatesville that is priced by negotiation. It has an RV of $6.25m.
Telos Group and Paterson Luxury director Caleb Paterson said there was a limited number of properties for sale in Coatesville, Dairy Flat and Ohura, with more buyers were looking.
He said it was a good time to be selling a high-end home now before a lot of properties hit the market in spring.
A property at 135 Okura River Road, Okura, with a price indication north of $6m, has just been listed with his agency and has already had 12 groups through, including 10 groups in the first open home on Sunday.
Paterson said there was strong interest from North Shore and Central Auckland buyers looking to move from their older luxury homes into newer properties.
Last year Peter and Beverley Mortlock, the founding pastors of one of the country’s biggest Pentecostal churches City Impact Church, sold their Coatesville mansion on Screen Road for $10m. The sale, which settled in December, was the highest sale price for the northwest Auckland suburb in 2022 and the second biggest sale in the last 12 months.
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