- Auckland’s 6 Garden Road has an RV of $31m and could be redeveloped due to its land value.
- The property, one of the last large estates in Remuera, is attracting developer interest, listing agent Michael Boulgaris says.
- Proposed planning changes could allow multiple developments, increasing its appeal to developers and Singaporean buyers.
It’s a 100-year-old Auckland mansion with a $31 million RV, and its next owner will likely take a chainsaw to it.
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6 Garden Road, in Remuera, has hit the market with one of the city’s highest rating valuations but the agent tasked with selling it, Boulgaris Realty owner Michael Boulgaris, believes there is more interest in the land than the Arts and Crafts-style spread that sits on it.
Boulgaris told OneRoof that the property is one of the last six remaining private residential estates in Remuera that exceeds 5000sqm in size. Because of that, the property will most likely appeal to developers.
While the property is currently in the Single House Zone, a proposed change to Auckland’s planning rules could open the door to multiple developments there.
The three-storey mansion was built a century ago and last sold for $12.1m. Photo / Supplied
And unlike many of Remuera’s top homes, it’s not down a long, narrow driveway or on a busy road, Boulgaris said, adding that it still has the advantage of being located on the suburb’s desirable northern slopes and has an elevated view of Rangitoto.
Even if a buyer decided against removing the main home, they could still build a couple of houses at that bottom end of the property, he told OneRoof.
The vendors, Donella Parker and Stephen Allen, bought the property in 2007 for $12.1m, and having raised their family there, were now looking at downsizing.
Their five-bedroom, four-bathroom 639sqm three-storey home comes with a four-car garage, a full-sized tennis court, a fully self-contained secondary dwelling, a wine cellar, and a swimming pool. Stephen tends the stately gardens himself, said Boulgaris.
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The agent told OneRoof he had spoken to developers who would be “writing a cheque on the spot” if the proposed Plan Change 78 to the Auckland Unitary Plan was confirmed.
“If Plan 78 comes in, I think the house will be moved. It’ll be cut in half and moved because the land is too valuable. If PC 78 zoning comes in [and] you’re a developer in Australasia, you’ll probably want this property.”
Boulgaris said he had been fielding enquiries about the property from Singaporean buyers who, like Australians, are exempt from New Zealand’s foreign buyer ban.
“We’re starting to get a lot of wealthy Singaporean buyers looking for top-end property. Whether it’s something to do with the US elections, I don’t know. We’re open to Australian citizens and Singaporeans. They’re all starting to put their focus back on New Zealand and the top end in Auckland.”
The mansion comes with a tennis court and a pool. It is one of Remuera’s last big landholdings. Photo / Supplied
The vendors are looking to downsize, having raised their children at the property. Photo / Supplied
He added: “If properties are selling for up to $30,000 per square metre on a busy corner of Victoria Avenue, you can only imagine how much more desirable it would be to be off a busy road.”
The future of PC 78 isn’t clear, however, with Auckland Mayor Wayne Brown asking the Government to withdraw the plan change and notify a new one this year, according to a recent report published by BusinessDesk.
Boulgaris said the vendors were keen to make a deal. “It’s a genuine sale. They spend a lot of time at their beach house, and this is surplus to their requirements.”
The couple had listed the property in June 2019 prior to the pandemic and again two years later. “We had it on the market then Covid hit,” said Boulgaris. “It had to come off. It was just a no-brainer. Nothing was going to happen at the top end of the market.”
Top-end homes in Remuera don’t sell quickly as a rule, Boulgaris said.
The top settled sale price in Remuera remains $29m for a nearby luxury home on Remuera Road. The property was sold off-market at the end of 2021 by Wall Real Estate.
Vying to break that record are two mansions, also on Remuera Road, and close to Boulgaris’ listing: 298 Remuera Road, which has a $25m RV and is being sold by New Zealand Sotheby’s agents Paul Sissons and Karen Moore, and 532 Remuera Road, which is with Remuera Register agents Terry And Diana King and is seeking $32m.
- 6 Garden Road, Remuera, Auckland, is for sale by negotiation
