‘NO PRICE ON PARADISE’
$15m mega-mansion build
Construction has started on one of Auckland’s most scenic waterfront spots where 17 separate street addresses are owned by one entity.
A builder estimated the project on land owned by Tokoeka Properties — whose directors include one of New Zealand’s wealthiest men, Berridge Spencer — at $15 million.
The 17 titles on about 1.5ha at Stanley Point Rd were estimated four years ago to be worth at least $50m, although Auckland Council lists it at only $34.5m for rating purposes.
Two jetties, a boatshed the size of a small home, clusters of native trees and north-facing gently sloping land are features of the site, more akin to a small lifestyle block on the fringes of the city than a singly-owned residential property.
Wade Construction won the tender for the new house.
Property records show Tokoeka owns even-numbered Stanley Point Rd sites from 60 to 92.
These have been associated with the Spencer family for generations, including with grandfather Berridge
Spencer, his sons John and Peter Spencer, and John’s son Berridge and his wife Olivia Spencer. The younger Berridge has substantial Waiheke Island interests at the award-winning Man O’ War Vineyards.
His father, who died in England in 2016, was New Zealand’s richest man for some years.
He topped the NBR Rich List in 1986 and 1987 with an estimated $675m due to ownership of the Caxton paper empire.
The older Berridge built Caxton Pulp & Paper into the country’s largest pulp and paper producer. He expanded the business after World War I, opening a mill at Kawerau and a printing works at Henderson.
It was founded in Auckland by his father, Albert, in 1890.
The company had a monopoly in tissue paper and other household products.
John Spencer also ran the company for seven years until it was sold after the sharemarket collapse in 1988 to Carter Holt Harvey for an estimated $300m.
The new house project sites are the almost half-hectare 70 Stanley Point Rd at 4856sq m and the 1462sq m at 76 Stanley Point Rd, according to council documents that note Tokoeka Properties does not own 74 Stanley Pt Rd.
Tokoeka applied to build on the site around 2016. This year, it was granted variations to its existing resource consent to build a slightly smaller two-level home than originally planned which fits more into the surrounding landscape.
A large older residence has been
demolished and a number of trees removed, although extensive new planting is estimated by those in the area to be worth at least $100,000.
One local said that to clear the site, exotic monkey apple trees and phoenix palms were among the many removed, replaced by native po¯hutukawa, titoki and pu¯riri.
The council’s resource consent says: “The proposed new design is for a more compressed structure of a more modern design at the same location, also with two storeys and five bedrooms with a pool and pool house, but without the guest bedroom.”
A garage structure and a driveway of reduced dimension are also planned.
Building consent was issued on May 9 for construction of the new dark brick and steel house with chimneys, attached garage, separate detached garage, pool and associated landscape works. The duration of earth and building works is anticipated to be 18 months.
The contract was for demolition of an existing house and construction of a new two-storey English cottage-style house. The first floor will be
239sq m. The architects were listed as Fearon Hay and Sumich Chaplin.
Ollie Wall, of Wall Real Estate, said the land value alone of the property could be worth around $50m: “A property of that scale on Auckland’s waterfront could easily sell in that vicinity. It’s what the whole world wants and there’s no price limit on paradise.”
Chris Darby, one of two North Shore councillors and a neighbour, said: “There can’t be too many examples in Auckland where one family, over four generations and 100 years, has retained ownership of such a significant site. It’s an urban oasis of calm, blessed by nature and just 1.5km as the crow flies from the bottom of Queen St. It’s good to hear the originallyproposed proud-on-thelandscape Remuera-style manor house design has been binned in favour a more context-sensitive design nestled into the landscape.”
Questions about the project were sent to Clendon lawyer Brian Joyce but no response was received.
A woman, who did not identify herself but on last Wednesday drove out of one of the Tokoeka Properties-owned homes, said a Herald on Sunday inquiry had been passed on “but we’re not interested in commenting”.