Kirkcaldie's Khandallah family manor back on market with $2.1m RV
A multimillion-dollar villa built for one of Wellington's most famous families is back on the market.
The Tranby homestead, built in 1904 for Herbert Kirkcaldie – son of Kirkcaldie & Stains department store co-founder John Kirkcaldie – has a rateable value of $2.1m and is for sale by tender.
The stately five-bedroom, four-bathroom home in Khandallah also features a spa pool and a triple garage, replete with studio loft and bathroom.
According to the Onslow Historian magazine, the villa was named after a house in Northumberland, northeast England, that had been visited by the Prince of Wales, later Edward VII, who was known as the playboy prince.
* Building becoming a cheaper option for people wanting their first home
* Capital market cooling as winter, loan restrictions and election uncertainty bed in
* End of an era for Wellington as Kirkcaldie & Stains closes its doors for good
* Will the last one out of Kirkcaldie and Stains please turn out the lights?
The Clark St home, covering nearly 500 square metres in Wellington's desirable "dress circle", and with a 1202sqm section, is being sold by Lowe & Co, which expects it to appeal to families.
Managing director Craig Lowe said the market for high-end homes was still robust, even though the capital's booming market had cooled slightly.
"Although not quite the crescendo of last year, the market in Wellington is still very strong – particularly for higher-quality properties – which is a slight contrast to last year, where even the properties with less desirable features were achieving competition amongst multiple buyers.
"Our average sale price is up significantly on last year, and with low inventory, high turnover, and an excess of demand over supply, we expect prices in Wellington to continue to rise in the near term."
In January last year, Kirkcaldie & Stains had its final day of trading before its shop floors, established in 1863, were reincarnated as Australian retail giant David Jones.