Buyers clamour for Sultan's Auckland properties
Buyers keen to get into Auckland's Herne Bay are clamouring to buy a piece of the Sultan of Brunei's former realm.
Wednesday, August 10th 2005, 7:37AM
by The Landlord
Graham Wall of Coles Real Estate said last week that he had a conditional deal to sell all 11 of the Sultan's Herne Bay houses to a single buyer - a transaction estimated to be worth around $35 million.That would make it New Zealand's largest residential real estate deal, though not the highest price sought.
The latest Forbes magazine lists Poronui Station near Lake Taupo as being for sale at around $62 million.
This week Mr Wall said the sheer number of Herne Bay properties being sold to the New Zealand businessman, whose name has not been revealed, made it likely the buyer would want to trade part of his new empire.
After fielding dozens of calls throughout this week, Mr Wall said many people had expressed an interest in buying some of the houses and had offered top dollar.
Particularly keen were tenants already living in the compound of five townhouses.
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