Hilltop mansion sells to local family

After three years on the market Matarangi has sold for 'a bit more' than $4.32m. Photo / Supplied

One of Hawke's Bay's most expensive homes has sold.

Matarangi, on Craggy Range Rd near Havelock North, has sold for "a bit more" than its council valuation of $4.32 million says vendor John Stace.

The 67ha property has two houses, a helipad, outdoor swimming pool, tennis court, lake, woolshed and stabling.

The main three-level concrete house features large weathered beams from a Wairoa bridge, designed in close collaboration with architect Charlie Nott.

John Stace helped design the home.

The 711sq m main house has three double bedrooms while the nearby 119sq m guest house cottage has two double bedrooms.

The main house has 270-degree views of the Tukituki Valley and, opposite, Te Mata Peak mountain range.

Its $5.25 million listing price three years ago made a splash - the council valuation at the time was $3.85 million.

Having designed the house, owner John Stace said selling would be an emotional wrench but they would be spending more time with their children in England.

"We thought our children were going to spend more time in New Zealand and, understandably, as they've children going to school they can't spend any time here at all.

"We're moving on with age and have decided that we want to have a simpler life and be able to travel. We will probably spend extended time in the United Kingdom with them."

They will likely buy property in Britain, where they lived from 1980 to 2005, but he said Hawke's Bay would remain home for him and Irish-born Ros.

A confidentiality clause prohibited him from disclosing the new owners, a local family with two children.

It was originally listed with Sotheby's before being placed with current agents Bayleys.

Mr Stace said at the time there was political uncertainty for overseas buyers of New Zealand land.

"Sotheby's did a thorough job - I have no complaints whatsoever - and then we decided it was time for a change."

"We were very, very impressed with Bayleys' professionalism, their attention to detail, their communicative skills are par excellence and they have been very diligent. As a vendor they kept us very well informed."