The house price record in New Zealand’s most expensive suburb may soon be eclipsed.
Agents selling a luxury waterfront mansion in Auckland's Herne Bay claim that the property is of similar quality to the suburb's current record-holder, a seven-bedroom home bought by rich-listers Simon and Paula Herbert in 2018 for $27.5 million.
READ MORE: New Zealand's most expensive homes
Ollie Wall, who is marketing the five-bedroom mansion with his father Graham, told OneRoof: "It is one of only four properties of this scale on the Herne Bay waterfront, and is the only one with access to the beach.”
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He added: "We expect a similar number to the last property of this scale and quality - $27.5m.”
The house, which sits on nearly 2800sqm of land, last changed hands two years ago for $13.9m, but Wall said it had been extensively rebuilt and renovated since then.
“It's completely gutted and refurbished, with all new landscaping," he said.
Wall estimated that the rebuild would have cost more than $5m, with the engineering on the new pool that cantilevers over the beach costing around $1m alone.
Wall said he had been fielding enquiries from locals and expats who were looking for a substantial base in the city that didn't require any work. Would-be buyers were keen to include the custom-designed furniture and fixtures in the purchase as a package, he said.
The house and grounds are one of the largest on the Herne Bay waterfront, at just under 2800sqm. Photo / Supplied
The Wall family know the suburb’s waterfront properties well, clinching the deal on a refurbished Marine Parade villa on 2688sqm for $23.5m last year, as well as the record-breaking $27.5m house on Cremorne Street and the sale of an 800sqm Fearon Hay home on over 4000sqm of land with water on three sides on Sentinel Road for $24m in 2015.
The only other substantial waterfront landholding in the tightly-held suburb is the pair of properties on Sarsfield Street, which rich-lister Rod Duke bought in 2015 for $17.85m.
The renovation included a full-size tennis court with a pavilion and gym and a swimming pool cantilevered over the water. Photo / Supplied
Duke combined the neighbouring sites into a 2298sqm estate, refurbishing the boat shed and jetty slipway to create a helicopter pad at the bottom of the garden.
The property Wall is marketing was completely remodelled by sought-after landscape designer Suzanne Turley to make room for a full-size black astro-turf tennis court on the street-side of the property with a modern tennis pavilion and a gym, while the sea-side got an infinity swimming pool, a pool house, a putting green, completely new terraces and steps leading down to the beach.
The owners of the Argyle Street home commissioned designers from Space Studio – known for their high-end restaurants, hotels and spas – to completely re-work the 1990s Alan Paul-designed shingle house to five-star hotel standards, a project that took 18 months.
The renovation added luxury hotel finishes such as oak floors, honed marble and brass touches. Photo / Supplied
Wall said: “That meant adding things that people didn’t even think of in the 90s – a scullery the size of a city apartment, huge walk-in wardrobe and luxury spa bathroom, storage everywhere.
“Of course, there’s all new electronics and security you can operate from your iPhone all around the world."
He added: “It’s nearly impossible to find a house of this scale absolutely finished and completed. You could walk in and not touch a thing,” Wall said, adding that even the Cremorne Street property bought by the Herberts had needed work.
The luxury principal suite includes marble and a soaking tub with water and sunset views. Photo / Supplied
