The property at 15 Cremorne St previously sold for $12.5m in October 2009. New Zealand's most expensive house sale remains the 2013 $39m sale of a Paritai Dr house partly financed by Hanover's Mark Hotchin to businessman Deyi Shi. Property records show the Cremorne St property just bought by the Herberts is owned by Stephen Graham Lockwood of insurance business Crombie Lockwood, and Lewis Thomas Grant. Simon and Paula Herbert sold this Remuera Rd property this month for $25.5m. Speaking from Marseille in France, Simon Herbert said of the Cremorne St purchase: "We're very happy.

Source: Otago Daily Times March 22, 2018 21:56 UTC