[ad_1]
Stuff
A three-level, 1,400-square-meter residential property is under construction in the Wellington suburb of Hataitai.
A luxurious $ 7.5 million home, believed to be the largest new construction in Wellington in more than a decade, is beginning to take shape on Evans Bay.
The five-bedroom, 1,400-square-meter home on Overtoun Terrace in Hataitai will be equipped with two bars, an indoor pool, work areas, massage and game rooms, a “great room” and a home theater.
It is being built on two sections of land, bought for $ 5.8 million in 2016 by brothers Nigel and Susan Stanford of Wellington, according to property records. The combined cost of the land and home is $ 13.3 million.
The Stanfords are involved in the motion picture industry, owning 43 percent of the computer software company Film Convert, and directors of the Mt Cook-based equipment rental company Rubber Monkey Rentals.
Nigel Stanford is also Co-Director of Film Convert and sole shareholder of Rubber Monkey Rentals.
READ MORE:
* A news hail in South Canterbury during November
* Part of the Weiti Bay development in Auckland for sale by the mortgagee
* Drug trafficker owns operation at the center of the strawberry scandal
* Kiwi expat raises capital to revolutionize technology in the commercial real estate market
Construction plans viewed by Stuff show the Hataitai house, which is understood to cost $ 7.5 million, includes a lower level of 821 square meters with an indoor pool and spa, massage room, bar, technology room, shop and workshop room and home theater.
It also includes a 279 m2 “recreation room”.
Stuff
The home is estimated to cost $ 7.5 million to build, with features including an indoor pool, home theater, massage and game rooms, and two bars.
The 510-square-meter ground floor includes a second bar, gallery, outdoor living room, great room and billiard room, while a 359-square-meter first floor includes a second gallery, master bedroom, and gym.
The Stanfords also purchased an adjacent property on Overtoun Terrace in 2017, for $ 1.1 million.
Nigel Stanford said he did not want to comment on the development when contacted on Monday, other than saying, “I’m looking forward to playing my guitar under a tree.”
He said his sister had nothing to do with the property, but was listed as the owner because she is a trustee of the family trust.
STUFF
The home is located on Overtoun Terrace, overlooking Evans Bay.
At 1,411 square feet, the home is roughly 10 times the size of an average residential home and comfortably the largest home to be built in Wellington in recent years.
Tommy’s real estate sales consultant Nicki Cruickshank said the development was the largest residential construction he could remember in Wellington in more than a decade.
“Honestly, I can’t think of a new construction in Wellington in that time frame that’s anywhere near that scale,” he said.
The largest residential development Cruickshank could recall in Wellington in recent years was a 620-square-meter property built in Northland in 2014, which sold a few years later for just under $ 5 million.
The Stanfords are also 40 percent shareholders in Aurora Pacific, a Newtown-registered company that sells audiovisual equipment, and were previously shareholders in TradeMe.
