Unfinished mansion in gated New Zealand village goes to auction

A half-finished mansion in an upmarket neighbourhood in New Zealand has sold with a multi-million dollar price tag.

The shell of the six-bedroom estate within Coatesville’s gated community, Park Gate, was snapped up at auction for upwards of $2 million (NZ$2.25 million).

Located just 30 minutes from Auckland’s city centre, the single-level 650 square-metre estate has a fully finished exterior, yet, the six-bedrooms and six bathrooms are non-existent.

Inside, the bones of the home are on show. The timber frame intimately showcases the property’s 4.2 metre ceilings and the outline of the multiple living spaces.

Potential buyers were given artist impressions to help them imagine the home’s potential. 

“The planned layout includes an enormous kitchen space with a scullery and wine cellar, offering the potential for exceptional culinary and hosting experiences,” the listing reads.

The incomplete home continues outdoors, with the expansive grounds lacking landscaping.

During an auction on March 6, the property sold for NZ$2.25 million ($2 million).

Auctioneer Andrew North said the property was in “one of the best locations in the entire country”. 

“It is a premier location where over-capitalisation is virtually impossible,” he said.

“It is in a location surrounded by multi, multi, multi-million-dollar neighbours. This is something you are going to find incredibly hard to find all over again.”

New Zealand property site, One Roof, reported the neighbour to the unfinished mansion is a property once occupied by internet entrepreneur Kim Dotcom.

Dotcom’s rental home sold in 2017 for an undisclosed sum.

It was labelled as one of New Zealand’s most expensive houses and had a reported asking price of $35 million. 

Dotcom leased the mansion from Chrisco multi-millionaire Richard Bradley, but was blocked from purchasing the property by the Overseas Investment Office as he did not meet the “good character” test.

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