Multi-million price tags on Cheltenham properties

The renovated Rata Rd house has decks and a front lawn flowing on to the north-facing beach and a large section with pohutukawa.

Two Cheltenham waterfront houses have fetched $6.7 million but a $26 million beachfront estate on Waiheke Island is yet to be snapped up.

Brian Guy of Premium Real Estate said Aucklanders who were not previously North Shore residents had bought the Cheltenham houses.

One buyer paid $4.1 million for 10 Rata Rd and another bought 44 Cheltenham Rd for $2.6 million.

The renovated Rata Rd house has decks and a front lawn flowing on to the north-facing beach and a large section with pohutukawa.

"A big, renovated bungalow on a broad beach property, it has been modernised with open-plan living, designer kitchen, two double bedrooms and office, plus two separate apartments for income or guests," agents advertised. "What makes it particularly special is resource consent for a new, two-storey home."

The Cheltenham Rd house, near McHugh's of Cheltenham restaurant, was built in 1933 and stands on a 1025sq m section. The agents advertised it as ready for restoration.

A house overlooking the beach at 14 Macky Ave sold in May last year for $1.7 million.

Guy said his firm,which has just opened a new Herne Bay agency, had set a new record last month, selling 12 properties for more than $1 million, including a Hauraki Corner unit in the Clifton Point development next door to the Wilson Home on Lake Rd.

But Chris Palmer of Premium on Waiheke Island is yet to sell a $26 million beachfront property at Cowes Bay. The 35ha farm with its own wharf, tennis courts, indoor pool and a 1200sq m mansion was put on the market by its Irish owner two months ago.