The back of the villa, 61 Rose Rd, Grey Lynn. Photo / supplied by Wall Real Estate
The back of the villa, 61 Rose Rd, Grey Lynn. Photo / supplied by Wall Real Estate
It’s traditional in the front and party at the back.
A Grey Lynn homeowner planning to move to Los Angeles for our winter has listed his quirky home for sale.
Despite the downturn in sales and values in this city, Tim Phin - founder of the quarterly lifestyle and fashionmagazine Remix - is selling the 1910 villa.
Auckland Council values 61 Rose Rd at $5.6 million. Phin bought it in 2014 for $1.3m but spent nearly double that on renovations six years ago.
Phin called in architects and builders last decade for a massive makeover and extension.
Additions made to the back in 2017 transformed the house from a three-bedroom villa to a five-bedroom, three-bathroom two-level home with two living areas, an outdoor pool, a fire pit, and outdoor dining, he said.
“The only thing that remained the same was the front door. Everything else was re-done including new double-glazed windows made so although it looks the same at the front. Everything’s all new,” Phin said.
The villa's front is largely unchanged in appearance but the whole house got a big renovation in 2017. Photo / supplied
Chris Tait Architecture worked with Evelyn McNamara Architecture to design the two-level cantilevered building which Phil said had transformed his place.
The renovation brought a Californian theme to the back of the villa, yet the front remains the same which preserves traditional styles from last century in the street, he said.
“What really makes the whole thing is that outside has this resort-style living. It’s got a tropical feel. I work from home as well. People think I’m in Bali on Zoom calls. There’s a firepit and glass doors can be pulled back during summer, opening up an indoor/outdoor entertaining/living room. You can close it off during winter,” Phin said.
Near the boundary, lollypop trees have been planted to give privacy.
Tim Phin of Remix Magazine is selling his Grey Lynn house. Photo / supplied
Glass encases the in-ground pool which is about 6m long, Phin said.
“But a lot was done on the renovation. I spent too much on that - over $2.5m,” he said.
GlenBuild undertook the construction work which took two years.
“Originally, the backyard was just a lawn with some trees. I love living in Ponsonby because it’s so close to work and bars. I wanted something that was not a normal villa. I wanted something to stand out,” he said.
“Mid-year I’m going to the United States to work for a bit in Los Angeles so I don’t have a winter in New Zealand,” he said.
The house is up for sale by negotiation and Phin hopes to achieve valuation or more.
The villa's modern kitchen/dining/living area. Photo / Supplied
It’s not a great time in the market right now.
Barfoot & Thompson found February house sales the slowest in nearly a quarter of a century. Peter Thompson, managing director, said only 410 properties were sold in February. That was for all the agency offices in Northland, Auckland, Hamilton and Tauranga.
Average prices dropped 1.2 per cent from January to $1,101,980 in February, and down 8.9 per cent annually.
Real Estate Institute data showed national house sales hit a record-breaking trough in January, slumping to the lowest since the Real Estate Institute began keeping records in 1992.
Auckland prices were down 21.7 per cent annually, under $1 million, falling to $940,000.
The Herald has reported how nearly half of New Zealand’s mortgage debt is due to be refixed between last October and this September and some borrowers are likely to see a big jump in their repayments.
Mortgage rates fell to record lows of around 2.25 per cent as the official cash rate was slashed to 0.25 per cent in May 2020 but the OCR has risen sharply since October 2021.
