Herne Bay: Yours for $10 million

Heraldhomes takes you on an exclusive tour of a former Sultan's palace.

8 Wairangi Street, Herne Bay.

The value of some property is less about the house and more about the location. In the case of this $10 million home, it also has a bit to do with its history.

Nine years ago this 19th century two storey villa was bought by the Sultan of Brunei, along with 10 other homes in this exclusive pocket of Herne Bay. Since then he has rarely visited them, and they have been rented only briefly. But they have been scrupulously maintained by cleaners, gardeners and guards just in case the Sultan ever decided to pop down. It was almost as though he bought them on a whim (he bought 8 Wairangi from a Cathay Pacific pilot for $3.8 million). Then, in July, he put them all back on the market, just as inexplicably. It was not as though their combined $35 million price tag would make much difference to his estimated fortune of US$20 billion ($29 billion).

Still, the package was snapped up by low profile New Zealand businessman Gary Lane for the asking price - a purchase he also could afford, appearing on this year's NBR Rich List at $225 million. In his mid-50s, Lane owns supplements company Healtheries and co-owns the Wairakei golf course. A keen sailor, he also chairs the board of superyacht maker Alloy Yachts.

He is reported to be planning to live in the most lavish property, Waimanu in Stack Street, but is gradually releasing the others for sale. Number 8 Wairangi Street is the most expensive of the remainder.

It's not often the public get to see inside houses of this value - they usually change hands among members of the Rich List or overseas buyers behind closed doors. But agent Graham Wall of Coles would like some exposure of this property, so was happy to give Heraldhomes an exclusive tour.

The 836 sq m house is set back on a generous 1922sq m of land on the edge of a small cliff. A paved, zig zag path takes you down to a small bay that others can reach only by boat. It is this exclusive access to what is essentially a private beach, so close to the city, that justifies part of its $10 million price tag.

Back at the top of the path is a vast, manicured lawn, a garden featuring a dragon tree that might be 100 years old, and a 20m swimming pool slung over the edge of the cliff. From the house's lower return verandah you can gaze across the pool, through the pohutukawa trees that line the property, and across the Waitemata toward the Chelsea sugar refinery.

Step inside onto a floor stitched in gold. The cream carpet features flower patterns, the centre of which are pure gold thread. Imported by the Sultan, his furniture also remains in situ. It is ornate, brightly coloured and edged in 18 carat gold. The home's buyer can do with it what he or she wishes.

Walk through the foyer, past a curious number of pillars, and into the formal living room. It is L shaped, lit by Italian chandeliers and opens out to the lower verandah, gazing across the pool, through the trees to the sea.

The formal dining room opens off the other side of the living room, graced by another chandelier. Across the hallway is the kitchen, somewhat dated but if you can afford to buy this place you probably won't be spending much time there. This, and the informal living area off it, are in a newer part of the house that has the feel of a conservatory. Blinds can be pulled closed across the glass ceiling to shield it from the midday sun.

Up a small flight of stairs is what would have been the servant's quarters - a bedroom and en suite, with the laundry next door.

On the way back to the foyer is cupboard containing a substantial safe.

A grand flight of stairs leads up to the second floor, housing the master suite, two more bedrooms, a bathroom and a sitting area on the landing. The master bedroom looks out to the view, and has access to the upper verandah. From here you get an interesting perspective of the city slopes of the harbour bridge, with Rangitoto beyond. It has a great night view, with the lights of Herne Bay houses in front of the moving lights on the bridge.

So the house is not enormous, and could even do with a bit of updating, but that won't be the point for its purchaser. It has location, character, its own beach, and a history story on which its new owner can dine out for quite some time.

Vital Statistics

SIZE: Land 1922sq m, house 836sq m including verandahs.

PRICE: $10 million.

INSPECT: By appointment.

CONTACT: Graham Wall, Coles, ph 021 951 368.

FEATURES: Turn of the century two-storey villa with return verandahs upstairs and down. Comes with carpet and furniture imported by former owner, the Sultan of Brunei. Swimming pool, views across Waitemata Harbour, path down to secluded beach.