Couple sell $26m worth of Auckland properties

The luxury property at 3 Wairangi St, Herne Bay. Photo / Supplied

Exclusive: Owners have previously donated $370,000 to National and are now cashing in a luxury portfolio.

A wealthy couple who have donated generously to the National Party are cashing up more than $26 million of property in Auckland.

Zhao Wu Shen and Susan Chou have given more than $370,000 to National through their company Contue Jinwan Enterprise Group, or in the name of Ms Chou, since 2010.

Mr Shen was also the biggest shareholder in Mega until selling his 25.9 per cent stake this month and resigning from the board of the online encryption service founded by Kim Dotcom.

The sale of the Mega shares comes as the Hong Kong-based couple try sell more than $26 million of property in Auckland, including a luxury home on a cliff top in Herne Bay with a council valuation of $11.5 million, which sold last month.

Once owned by Rich Listers Colin and Jennifer Giltrap, the 2049sq m site was bought by Mr Shen and Ms Chou for $10.75 million in late 2013 - one of the most expensive homes sold in Auckland that year.

But the 695sqm mansion is just one of a number of properties Mr Shen and Ms Chou are cashing up.

Listed as students on the electoral roll, the couple also sold a clifftop mansion in Howick for $7.5 million in May and another Auckland home for $1.6 million last year.

Three other valuable properties, either owned by Mr Shen or Contue Jinwan, are also listed for sale by Barfoot & Thompson agent Allie Chen. They include 20 hectares of land in Drury with a council valuation of $2.8 million and two large sections in rural Papakura, 7.5ha and 5.9ha, valued at $1.9 million and $1 million respectively.

The clifftop mansion at 229 Bleakhouse Rd, Howick. Photo / Supplied

Asked if the couple were selling up to leave New Zealand, their lawyer Jesse Nguy said he had no instructions to comment on their behalf.

The couple have kept a low profile in New Zealand, despite being among the most generous political donors. Electoral records show Ms Chou donated $300,000 to the National Party in 2010 and 2011, while Contue Jinwan gave $70,820 in 2011 and 2014.

Property file

Sold
3 Wairangi St, Herne Bay (CV $11.5m)
229 Bleakhouse Rd, Howick (Price $7.5m)
49 Quedley Court, Bucklands Beach (Price $1.6m)

For sale
20 hectares in Drury (CV $2.8m)
7.5 hectares in Papakura (CV $1.9m)
5.9 hectares in Papakura (CV $1m)
Total - $26.3m

National Party donations
2010 - Susan Chou $200,000
2011 - Susan Chou $100,000 and Contue Jinwan Enterprise $21,600
2014 - Contue Jinwan Enterprise $49,220
Total - $370,820