- An Auckland villa in Herne Bay sold for $15m, nearly $6m above RV, after less than a week on the market.
- The sale matches the highest price for a non-waterfront property in the suburb.
- Agents report strong demand for turn-key properties in Herne Bay, with international buyers targeting specific streets.
An immaculately renovated villa in Auckland’s Herne Bay sold for $15 million – nearly $6m above RV – after less than a week on the market, OneRoof can reveal.
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Listing agents Graham and Ollie Wall, of Wall Real Estate, declined to say who the buyers were but did tell OneRoof that there was a lot of interest in the five-bedroom home, which they brought to market in November last year.
“There are a lot of people searching for the perfect family home in Herne Bay – always, no matter what the market is doing,” Graham said.
The $15m sale price for Herne Bay Road is the joint-highest for a non-waterfront property in the wealthy suburb, matching the price of another villa on Jervois Road that sold at the end of 2024.
The property on Herne Bay Road benefitted from a multimillion-dollar renovation. Photo / Supplied
The two-storey house has water views. Photo / Supplied
Records show the vendors paid $3.575m for the two-storey Edwardian villa 13 years ago. They carried out a high-end renovation, overseen by Jones Architects, and added a swimming pool and poolhouse, a basement garage for five cars, a media room and a wine cellar, and updated the interiors with herringbone wood floors, modern light fixtures and a luxury marble-clad kitchen and bathrooms.
The Walls claimed the suburb’s top price last year with the $35m sale of property developer Ben Cook’s waterfront mansion on Sentinel Road. They may break that record with 15 Cremorne Street, the luxury home being sold by rich-lister property developer Simon Herbert and his wife Paula. That waterfront spread has its eyes set on a buyer with $40m-$50m to spend.
Also aiming high is 95-97 Sarsfield Street, next door to Cook’s former home and owned by luxury lodge designer Virginia Fisher.
New Zealand Sotheby’s International Realty agents Patrick McAteer and Suzanne Browne, who have the listing for 95-97 Sarsfield Street, told OneRoof that demand was highest in Herne Bay for turn-key properties. They said the “perfect” property was spacious, and had plenty of garaging, at least four bedrooms, including a spacious master bedroom, and a swimming pool. Privacy and security were also important.
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Browne said their newest listing, a fully renovated four-bedroom villa on 8 Galatea Terrace, would likely sell for much more than its pre-renovation RV of $8.7m because it ticked all the right boxes.
“They spent millions of dollars on it. I think the market is waiting for something like this,” Browne said.
McAteer said that international buyers tended to target particular streets in the suburb. “One of the best streets and one of the best pockets in New Zealand. That is really important to them,” he said, adding: “There just aren’t enough of them.”
“They don’t want to spend $20m, but if they have to, they will, to get the right property,” Browne said.
The agents are anticipating a run of overseas investors looking for over $5m homes when the new rules for the Active Investor Plus visa take effect from March 6.
“We believe there are a lot of people waiting for March 6,” McAteer said. “We’ve had a considerable bump in inquiry from vendors wanting to understand a bit more of the market.”
A newly renovated house on 8 Galatea Terrace, in Herne Bay, is expected to fetch well over its pre-renovation RV of $8.7m when tenders close on March 12. Photo / Supplied
A large 1970s townhouse with wide sea views at 3/67 Argyle Street is for sale for under $2m. Photo / Supplied
Kellands agent Martin Dobson agreed there was a shortage of the right sort of houses for sale in Herne Bay, but noted that had been a perennial problem in the small suburb. “Those [houses] are still sought after, and we are still short of stock on the ground. Those houses [that] are more like a $10m-plus purchase, or $9m to $10m,” he said, adding that buyers in this price bracket are particular about what they want.
“I don’t think it’s unlimited budgets, but I think [buyers] are prepared to pay the right money for the right property.”
On the suburb’s exclusive Marine Parade, a 1950s house one back from the water, recently sold for $5.8m, just over its $5.55m RV. The property is next door to the mansion bought by Zuru Toys’ billionaire Nick Mowbray and his partner, Jaimee Lupton, two years ago for $24m and is surrounded by multimillion-dollar homes.
The property had been owned by the same family for 90 years and was pitched by Bayleys listing agent Ed Pack as a “once in a generation opportunity”.
“This premium parcel offers the ideal platform to create your architectural masterpiece in one of Auckland’s most tightly held enclaves,” he said.
OneRoof reached out to Pack for comment on the deal, but had not heard back at the time of publication.
For buyers looking to break into Herne Bay on a budget, Pack’s colleagues, Jono King and Keri Ropati have an entry-level three-bedroom townhouse for under $2m.
3/67 Argyle Street has wide views of the sea and direct access to the beach. It comes with a tidy courtyard garden, huge master bedroom opening to a roof terrace, a smart kitchen, second living room and a garage and carport – all for $1.995m.
The agents bill the property as “Best buy in Herne Bay!”
“Move in and enjoy or take it to the next level and create a magnificent masterpiece on the water. It would be hard to overcapitalise in such a premium address.”
- Click here to find more properties for sale in Herne Bay
