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<\/p>\nRich-lister property developers John and Michael Chow are selling their multimillion-dollar mansion in Auckland\u2019s Orakei.<\/p>\n
The brothers, who are business partners of former Prime Minister Sir John Key and his son Max, have been looking for a buyer for their five-bedroom home at 5 Fenton Circus for more than a year before relisting it this week.<\/p>\n
The resort-like property, which offers clear views of the harbour and Rangitoto, has an RV of $12.75m and last changed hands in 2012 for $6.65m.<\/p>\n
The Chows, who own billion-dollar company Stonewood Group, first listed the home in March 2024, but pulled it from public view some months later, preferring to keep it as a quiet listing.<\/p>\n
The agents told OneRoof at the time that the house had attracted interest from \u201cmainland Chinese [buyers], but a lot of them still have money overseas, and there is still an issue of getting their money out [of China]\u201d.<\/p>\n
However, the changes to New Zealand foreign buyer rules in March this year may help the Chows attract high-net-worth investors from overseas.<\/p>\n
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John, left, and Michael Chow have grown their fortune in New Zealand through property development. Photo \/ Dean Purcell<\/p>\n
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5 Fenton Circus was designed by well-known architect Richard Priest. Photo \/ Supplied<\/p>\n
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The home boasts stunning views of Auckland harbour and Rangitoto. Photo \/ Supplied<\/p>\n
The Chows have engaged Bayleys agents David Rainbow and Harry Cheng to sell the house this time around.<\/p>\n
OneRoof reported last year that the property, which boasts four bathrooms, a games room, a media room, a gym, and a wine cellar, had become too big for the owners.<\/p>\n
Rainbow said the property had been popular with Chinese-New Zealand buyers at the first weekend of open homes, with many recognising that around $10m for a property of this size and quality would be hard to match in a new build. <\/p>\n
The land alone was worth between $5m and $7.5m. \u201cThen to build a 1400sqm house in concrete, you\u2019d be looking at $15,000 a square metre today, then there\u2019s the 24m heated pool. It\u2019s got all the bells and whistles.<\/p>\n
Discover more:<\/p>\n
– Bachelor NZ’s pool party house for sale as spa queen swaps Auckland for Bali<\/a><\/p>\n – Terminal cancer diagnosis forces couple to sell their dream beach home<\/a><\/p>\n – Revealed: The ‘accidental’ homeowners propping up NZ’s housing market<\/a><\/p>\n \u201cIf you\u2019ve got particular requirements, houses like this don\u2019t come up that often.\u201d<\/p>\n Rainbow said some of those looking had been on the hunt for over a year. \u201cThey want to be 15 minutes from the city; you want to see your children in the swimming pool, great flow from indoors to outdoors. This house has all that, north facing, with a view,\u201d he said.<\/p>\n He said his clients were ready to sell: \u201cMentally they\u2019ve moved. They have property out of Auckland, so they just don\u2019t need something as big in Auckland.\u201d<\/p>\n The concrete house was designed for developer Tony Gates and completed in 2009 by well-known architect Richard Priest, whose work appeared in Phil Spencer\u2019s New Zealand\u2019s Best Homes.<\/p>\n 66 Paritai Drive, in Orakei, is for sale with an RV of $24m. Photo \/ Supplied<\/p>\n The listing of 5 Fenton Circus follows a handful of big sales in the wealthy neighbourhood. In February this year, tech entrepreneur Graeme Fraser bought an apartment<\/a> on Karori Crescent for just under $12m after selling his Remuera estate for a record $43m.<\/p>\n And in June neighbouring mansions on Paritai Drive were snapped up by local buyers<\/a> for $12.5m and $11.388m.<\/p>\n The agent who brokered the June sales, New Zealand Sotheby\u2019s International Realty\u2019s Paul Sissons, has another Paritai Drive mansion up for grabs at No 66<\/a>. The four-bedroom, 654sqm home, which sits on a 1755sqm section, has an RV of $24m, making it one of the priciest on the street.<\/p>\n Sissons, who is marketing the property with colleague Karen Moore, said the house was built for well-known developer Gary Lane in the late 1990s and wraps around a full-sized tennis court at the rear.<\/p>\n The Chow brothers have had a busy year<\/a>. They opened the new Radisson Red Auckland, on Queen Street, in February and held a glitzy celebration for the launch of Aka, the restaurant and bar that sits atop the hotel.<\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/10\/d77b9d2ffd2343de33eaf418bf76e2f9.jpg\")
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