![\"A](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2025\/09\/4da580a20ff5af5240ff713b2c556d7f.jpg\")
<\/p>\n– Expats purchased an Auckland mansion for $8.3m, $1.2m above its RV.<\/p>\n
– The six-bedroom Herne Bay villa attracted significant interest for its privacy and guest accommodation.<\/p>\n
– Patrick McAteer noted nearly 50% of sales involved international buyers with residency.<\/p>\n
Expats snapped up an Auckland mansion for $8.3 million, one month after it hit the market.<\/p>\n
The two-storey Edwardian villa on Sentinel Road, in Herne Bay, fetched $1.2m above its RV, with New Zealand Sotheby\u2019s International Realty agents Patrick McAteer and Suzanne Browne inking the deal in May this year.<\/p>\n
McAteer declined to say more about the buyers but noted that the property had attracted a lot of interest. \u201cWe had a lot of qualified purchasers through the property. We had good competition right down to the very end. We got a good result,\u201d he said.<\/p>\n
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The six-bedroom gated mansion on Sentinel Road, Herne Bay, had the privacy overseas buyers expect, with extensive outdoor living. Photo \/ Supplied<\/p>\n
![\"A](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2025\/09\/ca289da0cc5670bf103e693c3383c21f.jpg\")
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NZ Sotheby\u2019s International Realty agents Patrick McAteer and Suzanne Browne at 10A Cremorne, in Herne Bay. Photo \/ Fiona Goodall<\/p>\n
He said buyers at the upper end of the market in Herne Bay were looking for high-spec properties on big plots of land that provided privacy and security.<\/p>\n
The appeal of the six-bedroom Sentinel Road property was that it ticked all the above boxes and offered extra accommodation for guests or staff.<\/p>\n
McAteer said he and Browne were close to securing buyers for another of their Herne Bay listings, a modern four-bedroom house at 10A Cremorne Street<\/a>.<\/p>\n Discover more:<\/p>\n – The cheapest homes on Auckland\u2019s rich-lister street <\/a><\/p>\n – ‘NZ for sale, bring your buyers’ – $50m properties to hit the market as ban loosens <\/a><\/p>\n – Historic Herne Bay mansion that dropped $2m in price for sale again <\/a><\/p>\n The eight-year-old house, designed by Hoxha Bailey, has an RV of $8m, but McAteer demurred when asked about the vendors\u2019 price expectations.<\/p>\n McAteer welcomed the Government\u2019s loosening of the foreign buyer restrictions for $5m-plus homes. He said he had been showing properties to buyers from the UK and Los Angeles with budgets \u201cwell in excess of $10m\u201d.<\/p>\n \u201cAlmost 50% of our sales this year have been with internationals, people who have residency,\u201d McAteer said, adding that he and Browne had been urging interested buyers to start working on their residency paperwork as early as last year.<\/p>\n McAteer and Browne are pitching 27 Sentinel Road, in Herne Bay, to the overseas market. Photo \/ Supplied<\/p>\n \u201cThen they can get on a plane and come to New Zealand and look at properties.\u201d<\/p>\n He did not think the Government\u2019s changes would lead to a stampede of new buyers, but it would give homeowners confidence to list in anticipation of a wider pool of buyers.<\/p>\n \u201cThe overseas clientele, in most cases, want New Zealand to add to their portfolio of properties. It\u2019s not a primary residence. The property managers who deal with these high net worth people tell us they are only here for the summer \u2013 a maximum of a month,\u201d he said.<\/p>\n \u201cBut there are already people here with significant money to purchase above $5m.\u201d<\/p>\n McAteer said that he and Browne were preparing to list two \u201csignificant\u201d properties in Herne Bay.<\/p>\n![\"A](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2025\/09\/3eced638c338c48228e384128966dca9.jpg\")
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