A mansion in one of New Zealand’s most sought-after suburbs has sold for $29 million, OneRoof can report.
The luxury home on Remuera Road, in Remuera, Auckland, was sold last year, but the record-breaking sale price remained confidential until settlement at the end of last week.
The off-market deal was brokered by Graham and Ollie Wall, of Wall Real Estate, but the agents declined to talk about the sale or identify the buyer or seller.
“Confidentiality is the reason people use our brand, so we can’t make any comment,” Graham Wall said.
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OneRoof was told about the sale by other agents in the area and it is believed the vendor is a prominent rich-lister based outside of Auckland.
The $29m sale price – $2m above CV – is the third highest for a residential property in New Zealand, and the highest for a house in Remuera.
The 979sqm house sits on a 4188sqm section away from the road and backs onto the grounds of a prestigious private school. OneRoof records show it was built in 2000 and had been in the hands of the same owner for just under 20 years.
The $29m price beats the earlier Remuera record of $26m, set in 2017, for a mansion on Remuera Road that was owned by property developers Simon and Paula Herbert.
The following year the Herberts went on to secure New Zealand’s fifth most expensive property, paying $27.5m for a waterfront home on Cremorne Street, in Herne Bay.
The previous Remuera price record was $26m set in 2017 for this Remuera Road mansion. Photo / Supplied
From left, agents Ollie, Graham and Andrew Wall outside a house off Paritai Drive, in Auckland's Orakei. The house, sold by Graham Wall for $38.5m, holds the country's record for the highest residential sale price. Photo / Fiona Goodall
Graham Wall can now claim to have brokered four of the country’s six biggest residential real estate deals.
In addition to the $29m sale, he was the agent for the Herberts in the Remuera Road and Cremorne Street deals and sold New Zealand’s most expensive house: the Orakei mansion built by disgraced financier Mark Hotchin which Chinese businessman Stone Shi bought in 2013 for $38.5m.
The $29m deal had been talked about for some months, with other Remuera agents noting that this benchmark will nudge up sale prices for high-end houses on the market on Remuera Road, Victoria Avenue and Arney Crescent.
Wayne Shum, senior research analyst at OneRoof’s data partner, Valocity, said that residential sales worth over $10m had almost tripled in number last year.
“Across New Zealand, there were 42 sales worth over $10m last year, 29 of them in Auckland,” Shum said.
“The year before, there were just 15 sales in the $10m-plus bracket, ten of which were in Auckland.
“The top end of the housing market has also picked up this year. Already in the first quarter, there have been 10 sales worth over $10m.”
The $29m price tag makes the Remuera Road property New Zealand’s third most expensive home, just beating the $28.888m paid for a waterfront property on O’Neills Avenue, in Takapuna, in 2017. That 1125sqm house, on a huge 4396sqm site, was bought by a neighbour on the same street.
The country's second most expensive house is a large spread on Mahoenui Valley Road in Coatesville. Photo / Supplied
However, it is $3.5m short of number two on the list: the country mansion on Mahoenui Valley Road, in Auckland’s Coatesville. The property was the former home of Kim Dotcom and was picked up in 2016 by ZURU Toys founder Nick Mowbray for $32.5m.
Mowbray sister Anna made property headlines in 2020 when it was revealed she and her partner, ex-All Black Ali Williams, bought a waterfront home in Auckland’s Westmere for $24m.
The couple are building a nearly 1600sqm six-bedroom mansion on the site.
Remuera’s top reported sale for last year was the $19.5m paid for Grant Dalton’s former mansion on Victoria Avenue.
