Article first seen on www.oneroof.co.nz written by Nikki Preston.
A French-inspired chateau overlooking a lake with an internationally renowned rowing course has sold for just under $5 million – about $400,000 less than what the owners bought it for with double the land size.
They paid $5.4m for the French-inspired chateau on Maungatautari Road in 2021 so they could build their forever home overlooking the lake on a one hectare section next door to the chateau.
After two years of planning their new build, the sprawling five-bedroom, four-bathroom home on 1.57ha with direct lake access hit the market last June and sold this month.
PGG Wrightson salesperson Martin Lee said the sale price was just under $5m due to being arguably one of the best sites on Lake Karapiro with a substantial 680sqm home.
While the property had attracted interest from expat Kiwis looking to return home and farmers looking to downsize, the new owner was a Waikato business couple who planned to renovate and live in the existing home.
“Whilst it’s a substantial home, they want to customise it to their tastes,” he said.
He said it had taken some time to find the right buyer as it didn’t appeal to everyone.
“It has taken a while [to sell] because it is a little unusual and at a price point that is at the top end of the market for its type.
“There were two categories of buyers – those who really liked it and couldn’t afford it and those who found it a little too out there for them.”
The sale couldn’t have come at a better time, he said, as the vendors had already started building their next home on the section next door.
“The timing is perfect for them. They are thrilled.”
Lee earlier told OneRoof the property, built in 1998, was totally unique and there was nothing like it in the Waikato, adding that it would not be out of place in France’s Loire Valley.
“It’s virtually a copy and a small version of a little French chateau. It’s very genuine to that style with the smaller windows and the curvature of it – just the way the staircases are placed.”
A long tree-lined driveway leads to a circular water fountain and surrounded by immaculately landscaped gardens and an inground pool.
Meanwhile, another unique property on 103 Smart Road, just 6kms from Cambridge’s town centre, is also looking for a new owner.
A Cambridge businessman bought the 37.06ha in 2020 for $2m and built a lodge-style property with plenty of garaging and four additional pods for bedrooms.
He and his wife moved into the lodge with plans to build a much larger home on the elevated part of the property and eventually use the lodge as offices.
But an unexpected change in circumstances meant the owner had to abandon his plans and the property is for sale with a price expectation of $5.2m.
Lee said the owner had done a lot of work to the property to get it to its current stage.
“It’s been a development project from the word go. He’s done a lot of work there. He’s planted 20,000 native trees to access the potential for further subdivision and gain additional titles.”
Along with the potential to subdivide the property into three titles, there is also approval for a helicopter pad.
The wood-panelled interior and antlers on the wall were inspired by the owner’s love of hunting, he said.
“It’s the biggest mancave I’ve ever seen – it’s the ultimate mancave.”
The lodge has a lot of extras including a modern kitchen, central and underfloor heating and a heated outdoor area and swim spa.
Lee said the property offered immense potential and so far everyone who had shown interest in the property wanted to live in the lodge because they loved how different it was.
Its uniqueness and higher price point meant the Smart Road lodge might also take a little while to find the right buyer, he said, but he was confident one would come along like they had for the chateau on Lake Karapiro.
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