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Home / Business / Personal Finance / Investment

For sale: glam pad or two

By Rachel Grunwell and Heather McCracken
Herald on Sunday·
16 Jan, 2010 03:00 PM3 mins to read

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Auckland's Princes Wharf where the luxury apartment is located. Photo / Chris Skelton

Auckland's Princes Wharf where the luxury apartment is located. Photo / Chris Skelton

An iconic penthouse overlooking Auckland Harbour may be sold in two lots.

One of Auckland's most luxurious apartments is back on the market - and may be split into two to attract potential buyers.

Property developer David Henderson's iconic 888sq m penthouse on the eighth floor of the Hilton hotel has been home to the 55-year-old for about a decade, but he now wants somewhere smaller.

Henderson does not need such an "enormous" property, which he also uses as an office "to use up some space".

He had previously tried to sell the apartment, but potential buyers had found it "too big".

Henderson had been advised the apartment could be more attractive if split in two. So he has obtained resource and Ports of Auckland consents for this - so all that would be required is building consents.

Henderson was coy about a possible price tag, but said if he sold one half he might remain in the other half.

It is understood the asking price has been about $10 million in the past.

Custom Residential agent Rose Kirkwood said the penthouse could still be bought as one, but buyers could now opt to purchase either the 498sq m "bow suite" with horizon swimming pool overlooking the harbour, or the 390sq m southern end, featuring 250sq m of outdoor living.

A new floor plan had been drawn up giving apartments separate access, but the changes wouldn't be made unless a buyer was confirmed.

"It's like living in a massive boat," says Kirkwood.

"You're pretty much perched on the waterfront." The new owner or owners could also enjoy marble-finish bathrooms, indoor and outdoor fireplaces, formal dining areas, a walk-in wine cellar, a lobby gallery and commercial kitchen facility.

She said although it was a leasehold property there was the potential to negotiate zero ground rent.

Henderson's apartment has had a tragic past.

In April 2008, Adam Marshall, a 28-year-old university student, died in a stunt that went wrong when he leapt about 5m off a balcony.

He had hoped to land in the harbour, but instead hit the ground and died instantly.

Meanwhile, Henderson said he was not selling the apartment to pay the Inland Revenue Department.

According to the High Court at Auckland, the IRD has lodged a bankruptcy application against him - reportedly for more than $3.5m.

He is due to appear in court on February 9, but said he hoped to resolve the issue before then. According to the court, if he does not show at this hearing or file papers in opposition before this date then he could be bankrupted on the day.

If he opposed any matters it could be adjourned to a defended hearing at a later date.

Henderson said he found it "a little bit embarrassing" reading the NZ Herald recently when he saw a public notice asking him to urgently contact the National Mini Storage or "goods held on your behalf may be sold to defray expenses".

He had simply "forgotten" about the furniture and personal items he had been storing, but added he was "astounded" the company had failed to contact him by telephone.

National Mini Storage national managing director Paul McFadzien said if the company had advertised in a newspaper this was the last step in trying desperately to get goods picked up and a bill paid.

This was usually after a minimum of 90 days after someone had stopped making payments.

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