Four multi-million dollar homes for sale on one premium street

Four multi-million dollar houses on the same premium Wellington street have been listed weeks apart, and just months after the sale of a neighbouring monastery.

Numbers 31, 44, 46 and 48 McFarlane St are collectively worth more than $15 million.

While 31 McFarlane St was listed before the March sale of the monastery, the three properties closest to the heritage site – 44, 46 and 48 McFarlane St – have all been listed by their individual homeowners since.

First on the market following the sale was number 46 on April 26, with enquiries over $2,950,000, then number 44 on May 16, at $4,795,000, then number 48 McFarlane on May 17, at $3,950,000. The asking price for the earlier listed number 31 is enquiries over $3,500,000,

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Three of the properties, 44, 46 and 31 McFarlane St, are all listed by separate Tommy’s Real Estate agents.

Tommy’s Real Estate sales director Tim Clarke said any potential renovation of the monastery was not a factor in the homeowners’ decision to sell.

Back in March, the real estate agent which sold St Gerard’s Monastery said various groups who looked at buying the Mt Victoria heritage-listed property had a broad range ideas for what to do with it – from museum to private library, private art gallery or community centre. However, the future of the site remains unclear.

“All these owners, the three that we have, are all quite normal individual circumstances as to why they’re on the market, they just happen to be on all at the same time,” Clarke said.

While prospective buyers of these properties may have questions about the future of the monastery, the heritage status of the building should put any concerns to bed, Clarke said.

“The thing that people need to remember about the monastery is that no matter what happens to it, it can never look any different from what it does today.

“It’s heritage one listed, it cannot change from how it looks from the exterior, obviously someone at some point in time may do some remedial work to it, but of course you could buy any property in Wellington and the neighbour goes and does a two-year-long renovation.”

Lowe & Co. Realty’s Mike Robbers, the listing agent for 48 McFarlane St property, also said there was no connection between the sale of the monastery and the listing of the property.

Clarke said it was not unprecedented to see a flurry of listings on high value streets in Wellington.

He noted four properties on another premium Wellington street, Central Tce, were all listed for sale at once just a few years ago.

Clarke said there were currently 23 Wellington properties listed for more than $3 million, which was higher than ordinary.

Premium properties were selling in a currently “buoyant” market, he said.

“It’s a seriously good opportunity for someone who wants to get into one of the best streets in New Zealand.”