Morgan Tait

Morgan Tait is the NZ Herald's consumer affairs reporter.

Living the high life for $6.7 million

Auckland penthouse apartment bought by car dealer could set a record.

Nine apartments will occupy the 464 Remuera Rd site in two separate blocks, one of four, the other of five.
Nine apartments will occupy the 464 Remuera Rd site in two separate blocks, one of four, the other of five.

At more than $6.7 million, a luxury Auckland penthouse is one of the city's most expensive apartments ever sold - and it hasn't even been built.

The 434sq m penthouse suite will be part of a new ultra-luxurious apartment block of nine units planned for Remuera Rd and due to be completed in mid-2015.

Purchased by an Auckland luxury car dealer, the dwelling comes with panoramic views across the Waitemata Harbour and will sit on 2534sq m of land to be planted in landscaped gardens with a gym and outdoor pool.

The new owner, who did not wish to be named, said he and his family were considering relocating from their freestanding Parnell home to occupy the apartment, but might consider selling it.

"Location was the prime purpose in being interested in it," he told the Herald. "Knowing the developer and what developments he has been involved with in the past and being able to do all the internal planning ourselves makes sense.

"The intention was to develop it like we would like to live, but we will determine that closer to the time it's completed."

He said the decision to relocate to an apartment reflected a changing lifestyle for the family.

"We have a freestanding home in Parnell, we have a property in Waiheke that we are spending more and more time in. It's a possible lifestyle change we are looking at for the years ahead."

Construction work by developer Albatross QT began shortly after Christmas at the 464 Remuera Rd site. Albatross built the apartments at 98 Remuera Rd.

A 300sq m sub-penthouse apartment was also sold, for $5 million, while a 118sq m unit went for $1.6 million.

The six remaining apartments at 464 Remuera Rd will be a combination of two- and three-bedroom units that range in size from 107sq m to 306sq m with price tags of up to $5 million. They are being marketed exclusively by Robert Ashton of Bayleys Remuera. He said the apartments would satisfy the most demanding owners. "The fittings and furnishings within the apartments at 464 Remuera Rd will be of the highest levels of style, taste, and quality.

"Buying off the plans so quickly into the process has enabled the first three apartment owners to individually style the interior decor of their respective homes."

Other buyers could have a say in styling but would have to move quickly.

Pricey apartments

*Former rich-lister and property developer David Henderson's $10 million pad on the top level of Shed 21, above the Hilton Hotel at Princes Wharf, has been for sale on and off for the past few years. At 880sq m with a wine cellar, two lifts and a heated swimming pool, it is said to be the country's largest and most expensive apartment.

*The top-level apartment of Shed 24 at Princes Wharf sold for $5.5 million in 2008 to a US buyer.

*The penthouse apartment in Takapuna's 19-floor The Sentinel sold for $5.2 million in 2010. It was at the time thought to be the most expensive apartment sale. It now has a valuation of $7.5 million.

*A consortium of Aucklanders is building what could be the country's most expensive set of boutique apartments for themselves, worth $4 million each. The waterfront low-rise in Herne Bay features four single-level units with two bedrooms and a study.

*IT king Charles Shrimpton sold his penthouse in Auckland CBD's Metropolis in 2011 for $3.45 million.

*He sold the two renovated sub-penthouses last year for about $3 million each.

*A CBD penthouse in the Stamford Plaza building is valued at $3.06 million.

*A penthouse in Parnell's White Heron complex is valued at $3 million.

Go here for the Herald's full property coverage.

- NZ Herald

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