The home in Hamilton sold in early 2016 for $2.65 million. Photo / Open2view
The home in Hamilton sold in early 2016 for $2.65 million. Photo / Open2view
A luxurious mansion on the outskirts of Hamilton has sold for $2.651 million - one of the most expensive properties to sell in the city.
The impressive River Rd property, near the Horsham Downs Golf Club and in the popular north end of Hamilton, sold under the hammer lastweek to a commuting Auckland chief executive.
Although it is on one of the city's most prestigious roads, the 5151sq m section does not have river views like many neighbouring properties.
It is also a far cry from the country's record, which is held by a $39 million property on Auckland's sought-after Paritai Drive in Orakei.
However, the expansive 684sq m Hamilton property still impresses with six bedrooms, five bathrooms and its own water feature. The u-shaped house is centred around a salt-water pool which can be viewed from a number of areas of the house, which also boasts multiple entertaining areas and has a fully equipped bar, library, media room and gym.
Harcourts marketing agent Aaron Davey said the home was bought by an Auckland boss who was already living in Hamilton and wanted to upgrade.
The 10-year-old property was last sold in 2009 for $1.85 million and has a current capital value of $2.58 million as of last June.
Mr Davey said Aucklanders were eyeing up properties north of the city and they ranged from people wanting to commute, professionals with young families relocating or retirees selling up in the big smoke and buying an impressive property while still having cash to spare.
The record for the most expensive home within 10km of Hamilton is held by a Tamahere property which sold for $3.6 million but had 10ha of land.
More comparable are sales in 2014, with a Flagstaff house going for $2.975 million and a Tamahere home at $2.8 million.
But Hamilton's priciest properties are a drop in the bucket compared to Auckland.
CoreLogic senior research analyst Nick Goodall said Auckland was a completely different market.
“Over the last couple of years we are seeing two very different markets. Auckland is very much more of an international city these days. More comparable to the likes of Sydney, Melbourne even, and cities on the western coast of America.”
