Property editor of the NZ Herald

$10.1m buys great view in elite street

The cliff-top house in St Stephens Ave, Parnell, was sold by Kerry and Bob McMillan for $10.1 million. Photo / Supplied
The cliff-top house in St Stephens Ave, Parnell, was sold by Kerry and Bob McMillan for $10.1 million. Photo / Supplied

Car dealer Bob McMillan and his wife Kerry have sold their grey minimalist cliff-top house in Parnell.

Ollie and Andrew Wall of Graham Wall Real Estate said the owners got $10.1 million for the house where the views are the most valuable feature.

Features include a substantial garage, temperature-controlled wine cellar, heated swimming pool, cliff-top spa pool, elevator to all floors and an office with views back to the city.

The St Stephens Ave property is in the same street as Prime Minister John Key's house. Photo / Supplied
The St Stephens Ave property is in the same street as Prime Minister John Key's house. Photo / Supplied

The 450sq m home was advertised as having a $9.2 million capital value but the Walls said the easing kiwi dollar made Auckland properties increasingly cheap for overseas buyers.

The house was sold to a Chinese family, Ollie Wall said.

The St Stephens Ave property is in the same street as Prime Minister John Key's house and Graham Wall said the dollar made overseas buyers particularly keen.

"There are more buyers than sellers for the few truly international homes in Auckland," he said.

Car dealer Bob McMillan and his wife Kerry, who sold the Parnell home. Photo / Norrie Montgomery
Car dealer Bob McMillan and his wife Kerry, who sold the Parnell home. Photo / Norrie Montgomery

"The dip in the dollar has increased the appetite for international buyers. Most recently we have been busy with wealthy Americans who can't get enough of our perfect country."

The McMillans are understood to have bought a penthouse apartment in Remuera Rd on the site of the former Coolangatta homestead, demolished in December 2006 to the ire of many in the city.

The agents said the McMillans, formerly of Team McMillan BMW, had built the St Stephens Ave house.

- NZ Herald

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