The owners of a French-inspired lakeside chateau who paid $5.4 million for it two years ago so they could design their dream home on a bare section beside it have put it back on the market.
The large five-bedroom, four-bathroom chateau on Lake Karapiro in Cambridge has a price indication in the early $5m range after half the section was lopped off so it could be added to their new property.
PGG Wrightson salesperson Martin Lee said the owners were businesspeople who bought both the chateau and a separate title in 2021.
They have spent two years designing their forever home on the neighbouring site and are now ready to build so have decided to sell the chateau.
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“Of course, people are looking and saying they are getting their money back and the market has dropped – that is a fair argument, but you’ve got to say where else are you going to find another one like this.”
The bare one hectare site alone is worth between $2m and $2.5m, he said, and the 680sqm dwelling easily pushes the price up to $5m.
Lee said the property, built in 1998, was totally unique and there was nothing like it in the Waikato, adding that it would not be out of place in France’s Loire Valley.
The chateau was built in 1998 and is at the start line for the international rowing course on Lake Karapiro. Photo / Supplied
“It’s virtually a copy and a small version of a little French chateau. It’s very genuine to that style with the smaller windows and the curvature of it – just the way the staircases are placed.”
A long tree-lined driveway leads to a circular water fountain and it boasts immaculately landscaped gardens including as inground pool.
Lee said it could suit a multi-generational family due to the properties having an east and west wing, someone who wants to run an Airbnb for their home, or anyone who desires to live in what he believes is one of the most desirable north-facing areas on the lake.
The property has direct lake access, is at the start of the international rowing course and on a bend of a river that allows people to view both sides of the water. It is also only an eight-minute drive to Cambridge.
The authentic chateau design includes the small windows and panes pictured in the farm-style kitchen. Photo / Supplied
Buyers from the Waikato and Auckland have shown interest in the property, he said, and there was even a serious buyer from the South Island. All plan to live in it as their permanent residence.
“There’s quite a wide cross-section of potential buyers, the problem is a lot of them would like to own it, but haven’t quite got enough money.
“It’s a very exclusive area.”
On the other side of Lake Karapiro at 20 Amber Lane in Cambridge is another high-end home. The 400sqm homestead with a separate two-bedroom guest home boasts lake views and sits on a 1.2ha section.
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