Two stunning multi-million dollar waterfront properties owned by former America's Cup yachtsman Chris Dickson and his wife Susan Dickson are on the market.

Chris Dickson confirmed he was selling the Takapuna properties which are on the coastal walk to some of the North Shore's most pristine sandy bays.

A property development source said the sites could easily fetch a price of at least $10 million.

Dickson did not want to comment on the reason for the sale but confirmed he had separated from wife Susan Dickson.

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"It's an amazing property with an old house on it and it will be a great project for someone else," Dickson said.

"I don't have a divorce, but we have certainly separated and have been for a long time."

Sue and Chris Dickson at Louis Vuitton charity ball, 2009. Photo Norrie Montgomery
Sue and Chris Dickson at Louis Vuitton charity ball, 2009. Photo Norrie Montgomery

The couple bought number 5 Kitchener Road in 1998 for $1,270,000.

It now has an estimated value of more than $5.8 million according to valuation company Homes.co.nz.

The house next door at number 3 was snapped in 2003 for $1,150,000 - that property is now worth an estimated $3.2 million.

The properties are walking distance to Takapuna and Milford shopping precincts and sandy beaches along the coast. Photo / Bayleys
The properties are walking distance to Takapuna and Milford shopping precincts and sandy beaches along the coast. Photo / Bayleys

The Dicksons lived at 5 Kitchener Road around 15 years ago but it had never been a long term family home for the couple or their two daughters.

"I lived there about 15 years ago it's a wonderful waterfront property, one of the few like it," Dickson said.

"It is a pretty amazing spot."

The Bayleys real estate agent marketing the properties said sales in the area were rare and interest was high.

Other properties of note shared the road including much-admired Merksworth Castle which was two doors down.

Much admired historic home Merksworth Castle is one of the properties of note along the popular coast. Photo / Bayleys
Much admired historic home Merksworth Castle is one of the properties of note along the popular coast. Photo / Bayleys

"It is an exceptional property with amazing views and there is a huge advantage to buy both," Simon Aldridge said.

Aldridge believed one buyer would purchase both properties.

"The properties are a lot more valuable together because you get more road frontage and also you get riparian rights with number 5," he said.

"It's an absolute gem of a spot with the likes of top streets like Minnehaha, O'Neills and Brett right there.

"It is about 150m walk to Thorne Bay which is amazing."

Picturesque Thorne Bay is within 150m of the Dickson's property. Photo / Doug Sherring
Picturesque Thorne Bay is within 150m of the Dickson's property. Photo / Doug Sherring

Aldridge said there had been strong interest from developers keen to take advantage of the zoning of Mixed Housing Suburban - one of only two coastal sites with that zoning on the eastern coastline from Devonport to Milford.

The zoning means by right, a developer could build four dwellings, but with council consent more intensification was possible because of the combined 1,739sqm land size.

One developer - who did not want to be named - said the possibilities were endless and could include high spec homes for cashed-up baby boomers.

"It would be an expensive site to develop because of the contour so there would be a lot of expense in earthworks," he said.

"But done well the end product would be sought after because people hold on tight to properties along that strip."

The developer said it was hard to estimate the profit but other houses in the immediate area have recently sold for around $10-$15 million.

Dickson made headlines 18 months ago when he felled a mature pohutakawa at the clifftop property just days after Auckland Council lifted protection on the trees.

Dickson made headlines in 2015 when he felled a mature Pohutakawa tree on the property just days after council lifted protection. Photo / Wayne Thompson
Dickson made headlines in 2015 when he felled a mature Pohutakawa tree on the property just days after council lifted protection. Photo / Wayne Thompson

He defended the move at the time and said the tree was a mosquito trap and was damaging his pool and house.

Dickson wouldn't comment on the future of the other 13 or so properties he owns with Susan Dickson.

The pair own residential properties on the North Shore as well as several commercial properties on Barry's Point Road and nearby Northcroft Street.

Dickson has long campaigned for digging out the harbour area on the Barrys Point Road side of Takapuna to create a Viaduct-like waterfront area with boat access and cafes.

Kitchener Road Facts

3 Kitchener Road

• Three bedroom

• Two bathroom

• 500sqm

• est value $3.2million

5 Kitchener
• Four bedroom
• One bathroom
• Swimming pool
• 1239sqm
• est value $5.8 million

- One of only two coastal sites zoned Mixed Housing Suburban on the eastern coastline from Devonport to Milford
- North Easterly aspect with good sunlight and uninterrupted view shaft of Rangitoto.
- Houses in the immediate area can sell from $10 - $15 million

Tenders Close (unless sold prior)
4pm Thursday 6th April 2017
29 Northcroft Street, Takapuna, Auckland, New Zealand