A “super penthouse” in New Zealand hits the market, aiming for a price record

TRD New York TRD WEEKEND EDITION /
May.May 17, 2020 12:00 PM
Penthouse at the Pacifica tower (Credit: The Pacifica)

Penthouse at the Pacifica tower (Credit: The Pacifica)

The most expensive home to ever hit the market in New Zealand is now up for grabs.

Australian developer Hengyi Pacific is asking NZ $40 million, or $23.9 million, for what the company calls a “super penthouse” atop the Pacifica tower under construction in Aukland, according to Bloomberg.

The unit spans 13,000 square feet across the 53rd and 54th floors of the tower. Hengyi Pacific didn’t originally plan to offer such a massive unit. The firm planned to build 285 units, but decided to carve out space for the penthouse after discovering some interest for larger units during the marketing phase.

The developer’s general manager in the country, Elizabeth Scott, suggested that it took some major redesigns, saying the firm “had our engineers redirect their attention to enable the penthouse to be constructed.” Workers broke ground on the tower in 2017.

The unit is exempt from a government requirement that buyers obtain approval before buying a home in the country, which could make it more appealing to foreign shoppers.

There isn’t much wiggle room for negotiation if Hengyi Pacific is going to break a record with the sale — the current single-family home record was set in 2013 when a mansion in Aukland traded for NZ$39 million.

The interiors are currently unfinished. Scott said a buyer could either purchase the penthouse as is for around NZ$35 million or go ahead with the developer’s plans.
The lower level would have most of the common space, the kitchen, a media room, and office. The upper floor would have five bedrooms, a gym, sauna, and spa. [Bloomberg]Dennis Lynch


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