Corazon Miller is a NZ Herald reporter

Auckland's most valuable properties nudge $300m

Former home of Mark Hotchin on Paritai Drive, Orakei, is valued at close to $50million. Picture / Brett Phibbs
Former home of Mark Hotchin on Paritai Drive, Orakei, is valued at close to $50million. Picture / Brett Phibbs

The City of Sails' ten most opulent properties, including the Coatesville mansion which was Dotcom's former home and a number on Waiheke Island, are estimated to be worth a total $296.13m.

Topping the list, provided by property market analysts ReLab, is a 7-bedroom mansion on one of Auckland's glitzy streets, Paritai Drive, estimated to be worth close to $50m.

The list showed all of the top ten properties were valued well above QV's latest average value for the city of $1.05m in November 2016.

The "cheapest" among the city's most expensive, was a large mansion nestled in Waiheke Island's Church Bay, estimated to be worth more than 20 times the city's average - $20.4m.

The owners, of the others on the list, include a number of the country's rich-listers, well-known business owners and some young entrepreneurs.

Auckland's 10 most valuable property players


4 Huriaro Place, Orakei

• 7 bedrooms
• 2 bathrooms
• 10 carparks
• 4322sqm
• ReLab's estimated value of $49.72m
• QV's latest capital valuation [2014]: $39m

This clifftop mansion in Paritai Drive sits on three sections overlooking the Waitemata Harbour, and reportedly cost $43m to build. The city's "most expensive house", which once belonged to former Hanover Finance director Mark Hotchin, sold in 2013 to businessman Deyi Shi for $39m. The founder and chairman of the Oravida Group and new owner of Ardmore Airport planned to live in the mansion with his wife and two children.

77 Waiheke Road, Waiheke Island

77 Waiheke Rd, Waiheke is worth $41.45million. Picture / Dean Purcell
77 Waiheke Rd, Waiheke is worth $41.45million. Picture / Dean Purcell

• 8 bedrooms
• 1 bathroom
• 3 parking spaces
• 40.5615ha
• ReLab's estimated value of $41.45m
• QV's latest capital valuation [2014]: $23m

Owned by rich-lister Bruce Plested, this idyllic retreat with an expansive stretch of land boasts beautiful tracks among the island's native shrubbery. Over the years, Plested has opened his property up for a number of fundraising events. Known as Rorohara, or Pie Melon Bay, its winding driveway gives visitors a chance to stop and take in the breathtaking view of the island harbour.

743 Riddell Road, Glendowie

Graeme Hart's house at 743 Riddell Rd is valued at $38.52million. Picture / Brett Phibbs
Graeme Hart's house at 743 Riddell Rd is valued at $38.52million. Picture / Brett Phibbs

• 4 bedrooms
• 1 bathroom
• 6 parking spaces
• 2.0058 hectares
• ReLab's estimated value of $39.52m
• QV's latest capital valuation [2014]: $31m

Owned by the country's richest person, Graeme Hart, this sprawling clifftop mansion sits on just over 2ha in Karaka Bay. The land was bought for $2m in 1995 and built upon over a number of years. The estate reportedly features a three-level banquet hall, complete with a domed glass atrium, its own swimming pool, wine cellar and view of the Hauraki Gulf. Hart, who was this year estimated to be worth $7.6b by Forbes and named the 178th richest person in the world, has a property portfolio which includes a number of other properties in the city and on Waiheke Island - including one that makes the bottom of this list.

186 Maheonui Valley Road

Kim Dotcom's former mansion at Coatesville is estimated to be worth $30.3million. Picture / Supplied
Kim Dotcom's former mansion at Coatesville is estimated to be worth $30.3million. Picture / Supplied



• Coatesville
• 12 bedrooms
• 9 bathrooms
• 22,6000sqm
• ReLab's estimated value of: $30.03m
• QV's latest valuation [2014]: $23.55m

This estate topped the list of nationwide-property sales for 2016. The Coatesville mansion, which once housed outspoken internet mogul Kim Dotcom, went for $32.5m to proud new owners and Kiwi siblings - founders of toy company Zulu. Renamed Mahoenui Valley, its new owners hope to scrub it clean of its former infamous reputation and make it a family home for future generations.

9 Argyle Street, Herne Bay

9 Argyle St, Herne Bay, has a valuation of $26.14million. Picture / Supplied
9 Argyle St, Herne Bay, has a valuation of $26.14million. Picture / Supplied

• 5 bedrooms
• 1 bathroom
• 2 parking spaces
• 4229 sqm site
• ReLab's estimated value of: $26.14m
• QV's latest valuation [2014]: $20.5m

Once owned by the Sultan of Brunei, this formerly neglected hideaway in Herne Bay was revamped six years ago by its new owner - rich lister Gary Lane. Bought for just over $11m in 2005, an extensive makeover gave the tropical-style retreat a fresh contemporary look. It's but one of a number of houses in the area Lane bought off the Sultan more than 10 years ago. He's since on-sold a number of them - but is still listed as owning this particular property.

139 Arney Road

• 5 bedrooms
• 1 bathroom
• 4 parking spaces
• 1.2581 hectares
• ReLab's estimated value of: $24.22m
• QV's latest valuation [2014] $19m

Unlike the others, this five-bedroom property isn't a mansion, but sits in 1.2ha of park-like surroundings. It is located in the central, popular and affluent suburb of Remuera, which QV rated as having a median home value of $1.92m. Twenty years ago the home, which also comes with space for four cars, sold for $6.5m - reportedly one of the biggest sales in the country at the time. If sold today it could go for more than quadruple its last sale price, but still a few million short of this year's top sale of $32.5m.

127 Arney Road, Remuera

• 6 bedrooms
• 1 bathroom
• 5 parking spaces
• ReLab's estimated value of $22.3m
• QV's latest valuation [2014]: $17.5m

Records indicate this six-bedroom home in Remuera belongs to the widow of liquor magnate Michael Erceg. Lynette Erceg, whose husband, the founder of Independent Liquor, was estimated to be worth $620m at the time of his death more than a decade ago, is listed on QV as being equal owner with Darryl Gregor and Catherine Quinn. Michael Erceg was flying his private helicopter to Queenstown with a friend when it disappeared off the radar in November 2005 - its wreckage was found two weeks later.

12 Cremorne Street, Herne Bay

• 4 bedrooms
• 1 bathroom
• 3 parking spaces
• 3865sqm site
• ReLab's estimated value of $21.04m
• QV's latest valuation [2014]: $16.5m

Two years ago this four-bedroom mansion on a prime piece of Auckland waterfront had the highest capital valuation in the pricey cul-de-sac. At the time it was co-owned by property developer and arts patron Adrian Burr, also the founding director of Auckland's School for Performing and Creative Arts, and his associate Mark Taylor. The multi-million dollar mansion is but one of a handful of others in the wealthy suburb that, according to QV, has a median home value of $2.4m.

11 Clifton Road, Takapuna

• 5 bedrooms
• 9 bathrooms
• 8 parking spaces
• 4022sqm site
• ReLab's estimated value of $21.04m
• QV's latest valuation [2014]: $16.5m

This modern Takapuna chateau took out the second spot in the 2016 list of top sales nationwide when it sold in April for $22m. It was initially touted by those selling it to be worth more than $35m but spent several months on the market before finally selling for $13m below expectations. Overlooking the Hauraki Gulf, the mansion offers its new owners a large swimming pool, a selection of marble bathrooms and Swedish solar heating to keep warm during the winter.

131 Church Bay Road

• 3 bedrooms
• 1 bathroom
• 43.1 hectares
• ReLab's estimated value of $20.4m
• QV's latest valuation [2014]: $16m

The cheapest on this list is a large mansion nestled in Waiheke Island's Church Bay where a handful of other multi-million dollar properties and their rich owners can be found. This property, also owned by the country's richest man Graeme Hart, is reportedly one of several sections of land he owns in the area that together make up the Church Bay Farm.

ReLab's co-founder and marketing director Bill Ma said its estimates were based on an automated valuation model which took into account factors that could impact a property's price, such as its flooding risk, section slope or proximity to a power pylons.

The company said its estimates weren't to be seen as official appraisals and urged people to do their own research and visit the property.

However, Ma said its internal testing indicated its estimates fell within a property's actual sale price more than 70 per cent of the time which was within international norms.

- NZ Herald

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