New Zealand’s most expensive rental, a high-end mansion in Auckland’s lifestyle fringe that commands $6250 a week, could be the new home for a well-known Kiwi family.
Max Thomson, managing director of Alba Property Management, told OneRoof the high-profile family was close to signing a five-year lease for the five-bedroom luxury property in Lucas Heights.
“We are days away from it being leased to a family on a five-year term,” Thomson said.
“It’s a phenomenal deal, probably the largest in the country at a massive price point. The property is as high-end as you get."
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The 7.23-hectare estate is largely hidden from public view and comes with manicured gardens, grounds staff, a large pool and jacuzzi, and clear views of the Te Wharau Creek estuary and the North Shore Golf Club.
The house itself is Italian-inspired and designed by architect John D’Anvers.
OneRoof records show the property sold three years ago for $5.35 million and now has a CV of $6.25m.
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The owner told OneRoof earlier this year he had bought the house during Covid after a 20-year spell in Hong Kong. He decided to rent it out after deciding to move back to Hong Kong.
“It was a difficult decision as we know we could not live in the same type of dream house [in Hong Kong]. We decided to rent the house to an appropriate individual who will understand its interior and exterior beauty,” he said when the house was first listed for rent.
The house was built in 2000 and features a fountain, a gourmet kitchen, butler’s pantry, a home cinema, library, office, and a billiard room. A space currently used as a children’s games room and gym has the potential to be a separate guest apartment.
The property also comes with underfloor heating, custom-made joinery, imported chandeliers, a speaker system and five fireplaces. CCTV cameras, automatic gates, and an alarm system provide security.
“This property is truly a dream come true for anyone looking for the ultimate luxury lifestyle,” Thomson told OneRoof.
The property comes with a large outdoor pool and views of the estuary. Photo / Supplied
The new tenants will be forbidden to walk on the carpet with shoes. Photo / Supplied
Thomson said a family relocating from Spain was also interested in renting the property. “We had three serious [potential renters], which is typical of that high-end price point.”
The $6250 a week rent is almost 10 times higher than the Auckland average, according to the latest Barfoot & Thompson rental figures. The new tenants would have to find more than $300,000 a year to meet the rental costs alone, more than the mortgage cost for many Kiwis.
The new tenants are also forbidden to wear shoes on the carpets, which cost around $200,000. Thomson wasn’t worried about spills or damage, though. “They are good people who operate in this space. They are respectful.”
While figures show the overall demand for rentals is high, it can take leasing agencies some time to find tenants at the top end of the market. However, Thomson said it’s not unusual to have more than one potential tenant express interest, especially for properties in Coatesville and Lucas Heights, which are popular with people from overseas because of the space they offer.
“In Remuera or Ponsonby, you are close to your neighbours. It is quite crowded,” he said.
Every top-end tenant was different, Thomson said, but they did share some common requirements. “Privacy is key. They want a lot of space. They want a swimming pool. They want a dream property. They usually have kids and want them to be able to run around and watch them enjoy the abundance of space.”
Another high-end property looking for $6000 a week in rent is the Roy Keith Binney-designed mansion at 542 Remuera Road, in Remuera.
The five-bedroom, five-bathroom home sits on a 4012sqm section and was previously owned by developers Simon and Paula Herbert. They sold the home to an overseas buyer in 2018 for more than $25m.
The mansion at 542 Remuera Road, in Remuera, can be rented for $6000 a week. Photo / Supplied
The property was owned by developer Simon and Paula Herbert and is close to acquiring new tenants. Photo / Supplied
The property has been on the market to rent since February this year and comes with a heated swimming pool, tennis court, dance studio, sauna, sun bed, bar, games room, and a four-car garage. Tenants are being asked to pay a four-week bond and two weeks' rent in advance (all up, $36,000 before they move in).
Will Alexander, director of residential property management at Bayleys, said his agency has rented out the property previously and was close to signing a new tenant. “We have someone looking to rent it pretty soon. It is a small market, but it’s a captive market.”
Alexander said high-end rentals appealed to a mixture of tenants. “People coming to the country, unsure where to buy, or people undertaking a large renovation or new build. Governments also rent these high-end properties. They are not short-term contracts.”
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