Auckland’s most expensive property is worth $180 million

The most expensive single property in Auckland is valued at a jaw-dropping $180 million and is owned by the company fighting in court to develop a huge section in Okura.

Auckland Council has released revaluation figures for properties across Auckland, revealing the region’s house values have gone up 46 per cent to make the average Auckland home worth $1,076,000.

In bare blocks of residential land, the 63.7 hectare property at 260 Vaughans Road in Long Bay, on Auckland’s North Shore, had the highest capital valuation of any property across the region.

Valued at $180m, up from $113m three years ago, the property is owned by Long Bay Communities, whose parent company is The Todd Corporation.

The land is part of Todd Properties residential development plan, which will build 2000 new dwellings on 162ha at Long Bay.

In September, Todd took Auckland Council to court in a bid to build 1000 homes on land just north at Okura, with a decision expected in March 2018.

Meanwhile, the most expensive home on Auckland’s North Shore has a value of $28.5m, up 85 per cent on its 2014 valuation of $15.4m.

The mansion is at 19 O’Neills Avenue in Takapuna and has extensive harbour views. The 4396 square metre property, which was built in 1999, is owned by Lichun Gao, according to QV.co.nz.

Gao purchased the property on July 4 this year for $28.9m, ahead of its revaluation.

But the O’Neills Ave home was more than $10m shy of Auckland most expensive residential dwelling, a $40m home in Glendowie owned by New Zealand’s richest man, Graeme Hart.

And even more expensive is the city’s top valued residential home and income property, a $46m seven-bedroom clifftop mansion developed by former Hanover Finance director Mark Hotchin on Paratai Ave in Orakei.

The bottom residential properties by capital valuation across Auckland were also found on the Shore.

The first and second spot-getters were both in Glenfield, residential home ownership units worth $80,000 each.

Retrieved from Stuff.co.nz

https://www.stuff.co.nz/business/property/99101233/aucklands-most-expensive-section-in-council-valuations-on-north-shore

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