Hotchins sell slice of paradise

The Bridgewater Rd home has a gym, pool and tennis court. Photo / Supplied

The tropical playground-style Parnell mansion of wealthy Hanover co-founder Mark Hotchin is said to have sold for about $4 million.

The sale price would make Mr Hotchin a huge profit, as QV records show he bought the house in 1999 for $2.3 million.

Gary Wallace, Bayleys Real Estate's top residential agent, refused to confirm the sale but said he had the house on an exclusive listing for more than a month and it drew considerable interest.

"We attracted the type of interest you'd expect: high-end buyers. You'll always get good interest in a property at that end of the market and clearly in the last 12 months, I've sold a serious amount of property in Parnell."

Mr Wallace said Mr Hotchin's house was representative of a certain style and type of Parnell property at the top end of the market.

Mr Hotchin had almost finished a $30 million mansion on a prominent Paritai Drive site before work stalled last month when he was holidaying in Hawaii, drawing fire from out-of-pocket Hanover investors who criticised his lifestyle.

His five-bedroom place at 16 Bridgewater Rd has a gym, pool and tennis court and stands on nearly a third of a hectare. The property has a rateable value of $5.3 million and Mr Hotchin is listed as the sole owner.

The 2832sq m property is in the exclusive leafy area prized for its proximity to the city. Not far away is the formal Italian-style home of Prime Minister John Key.

Kellands Real Estate marketed Mr Hotchin's house initially.

Geraldine Meo, Kellands' sales manager, said her firm did not sell the house, which went on a general listing for some time before Bayleys began marketing it.

Mr Hotchin could not be reached for comment and is reportedly in the south of France.

Bayleys tempted buyers to the Parnell house with "vendor on the move so it's time to make your move. Don't miss this fabulous five-bedroom family home ... in the heart of Parnell."

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What you get for $4 million:
* Sold as "ultimate adventure playground".
* Three-level low-maintenance house.
* Full-size floodlit tennis court.
* Tropical-style landscape, formal hedging.
* In-ground pool surrounded by boxed palms.
* Indoor living flows onto decks and patios.
* Polished wood floors, white walls.
* Set on huge section down long driveway.
* Hi-tech security measures throughout.