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The Waiheke holiday home of property developer Mark Cooper - who is the subject of litigation by Hanover Finance - has been put up for mortgagee sale.
The 210sq m home is valued at more than $2.6 million and has three bedrooms, two bathrooms, an office, a double garage and views of Onetangi Bay.
Real estate agent Daniel Burrill said Westpac had asked him to sell the home as a mortgagee sale.
He had been instructed by the legal firm acting for the bank not to give prospective buyers any indication of the possible price.
Quotable Value says the property has a capital value of $2.66 million. A nearby property with a capital value of about $2 million recently sold for $1.5 million.
It is understood Mr Cooper has not lived in the luxury home, which he had built, for several years.
He has been linked with the troubles faced by Hanover Finance.
The struggling finance company said in July that it had suffered because borrowers - including Mr Cooper, who owed about $30 million - had sought to challenge their loan obligations through the courts.
Mr Burrill said the Waiheke home did not officially go on the market until next week, but it had been displayed on the Bayleys website for a couple of days.
Since it went online, he said, he had had several calls, including some from expatriate New Zealanders living in Europe, Hong Kong and America.
One person "popped over" from Britain to view the home, which is built halfway down a cliff, is reached through a tunnel and has access to a private beach.
Mr Burrill said the home would be auctioned at Bayleys' Oneroa offices at 4pm on February 5.
"It's a fabulous property. It's architecturally designed and has outstanding views of Onetangi Bay and it's got this access to a little cove that only about four properties have access to.
"It's very hard to get this sort of high-quality property in this kind of position."
