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Home / Business

The price tags on wealthy Kiwis' homes

By Aimee Shaw
NZ Herald·
12 Oct, 2016 11:05 PM3 mins to read

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Kim Dotcom's Coatesville mansion. Photo / Natalie Slade

Kim Dotcom's Coatesville mansion. Photo / Natalie Slade

The property market is heating up around the country with six areas reaching new highs for the average price of homes.

Here's a look at the property value of some of New Zealand's rich and famous.

1. Dotcom mansion

Notorious Internet mogul Kim Dotcom's former Coatesville mansion located on Mahoenui Valley Rd in Auckland was recorded to be worth an eye-watering $23.55m.

The sprawling estate had a 2015 council valuation of $23.55m but was previously expected to sell for around $35m. Earlier this year the estate was sold for $32.5 million. It was formerly owned by Chrisco founder Richard Bradley.

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Internet entrepreneur Kim Dotcom. Photo / Greg Bowker
Internet entrepreneur Kim Dotcom. Photo / Greg Bowker

Dotcom told the Herald, at the time of sale, he expected the mansion probably sold for "around $22m-$24".

He was reportedly paying $1m per year in rent.

The four-level mansion has 12 bedrooms and seven ensuites, a wine cellar, library, billiards room, various inside and outside pools, a 22.6 hectare park, vineyard, and a walk-in wardrobe the size of most people's living room.

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2. Richie McCaw

The former All Black captain has accumulated six properties - four houses and two bare sections.

One property, in Wanaka valued at $650,000, is understood to have been built by Versatile Homes as part-payment for his long-running association with the construction company.

McCaw appears to have avoided over-capitalising his home, with his primary residence having fairly typical dimensions (205sq m) and a rateable valuation of $1.05 million - above-average in Christchurch but wouldn't stand out in Auckland.

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Former All Blacks captain Richie McCaw. Photo / Mark Tantrum
Former All Blacks captain Richie McCaw. Photo / Mark Tantrum

While the properties have a combined rateable valuation of $2.6m, McCaw's most substantial investment - running into the millions - appears to have been Christchurch rest homes.

3. Graeme Hart

New Zealand's richest man Graeme Hart owns a clifftop mansion in Glendowie, Auckland, worth a whooping $31m.

With a estimated net worth of $7 billion, Hart's clifftop mansion isn't his own residence.

Aerial view of Graeme Hart's clifftop mansion and grounds in Glendowie. Photo / File
Aerial view of Graeme Hart's clifftop mansion and grounds in Glendowie. Photo / File

Hart owns three superyachts made and designed in Norway. His 107 metre-long superyacht Ulysses boasts a total of 15 cabins, a helipad and a jacuzzi and can accommodate up to 30 guests.

The 107m luxury vessel alone is worth $266 million.

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Mediaworks broadcaster Paul Henry. Photo / File
Mediaworks broadcaster Paul Henry. Photo / File

4. Paul Henry

Mediaworks broadcaster Paul Henry has a home nestled in Lucas Heights in Albany, according to Fairfax.

The TV host bought the Auckland property in 2004 for $1.19m - in today's heated propert market it is estimated it could be sold for $2 million, Fairfax reported.

The home is currently valued at $1.945m.

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