A dilapidated waterfront Auckland property has been sold for an "undisclosed amount".

The 118-year-old St Marys Rd property will now leave the family's hands after a successful tender process yesterday, Harcourts agent Cynthia Klenner confirmed.

The Murphy family paid £400 for the Auckland waterfront property 118 years ago.

While Klenner wouldn't yet divulge the sale price, it did have a rateable value of $2.475 million.

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She said the sellers, brothers John and Peter Rossiter, had mixed emotions over the sale.

It's unknown if the buyer will demolish or embark on an extensive do-up on the 118-year-old property.
It's unknown if the buyer will demolish or embark on an extensive do-up on the 118-year-old property.
The St Marys Rd property has a celebrity neighbour in the form of Deputy Prime Minister Winston Peters who partner lives nearby.
The St Marys Rd property has a celebrity neighbour in the form of Deputy Prime Minister Winston Peters who partner lives nearby.

"There's mixed emotions, they're happy and sad. It's just been a long time in the family, it's quite an emotional upheaval for them."

She said the new owners were "delighted" with their purchase and were currently deciding what to do with the property.

The four-bedroom, two-bathroom house also has celebrity neighbour in the form of Deputy Prime Minister Winston Peters, although the brothers joked at the time they were unsure if that was a selling point or not.

The house sits on a freehold 865sq m site and is zoned for a single dwelling but has views out over the harbour and the Harbour Bridge.

Photos taken from inside are like a step back in time, with original furniture still in situ, most of which has since been taken away.

The house is in a state of disrepair and would either need to be demolished or require a fat wallet to refurbish.