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Fishers buy one of NZ's priciest houses

Friday, September 2nd 2016, 4:16PM 6 Comments

Carmel and Hugh Fisher have one of the swankiest home in Auckland for $22 million.

Although their funds management business adopts a growth style they have taken a value approach to buying Chateau de La Sur Mer on Clifton Rd in Takapuna.

The asking price was $35 million, but they bought the Chateau for $22 million.

The 1730 m2 is more than eight times the size of a normal large house and sits on nearly half a hectare of land.

The house was designed by Greg Noble and sits among private landscaped gardens. It was described as “being without equal in New Zealand” when it was being marketed.

It has five bedrooms, nine bathrooms and parking for eight cars. It also includes state-of-the-art security, marble bathrooms, imported chandeliers, Swedish solar heating, a swimming pool and cabana.

Tags: Fisher Funds

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Comments from our readers

On 2 September 2016 at 6:15 pm blogger billy said:
Whilst Norm Stacey might not have had a legal case against Stacey & Fishers, it appeared that they took it all and gave Norm nothing

Morally and in the interests of integrity, fairness, and staying out of the Press, it seems that paying him $220,000 would have been smart, fair and certainly affordable for Ms Fisher

In fact just 1% of the value of her new house (not to mention her Bentley or
her other assets)

I seem to remember Ms Fisher fighting her Uncle's estate in court too

Her KiwiSaver members may feel a bit ill on this news

Oh dear I forgot, money matters more than people in NZ today

Another example of why our industry struggles to look good
On 4 September 2016 at 10:14 pm b p said:
The problem I have with that whole discussion about "clients interests first" versus "clients best interests" etc is just that it is really a bit difficult to see any easily understood, real life evidence of the impact of putting the interests of a fund manager before those of clients........
On 5 September 2016 at 10:55 am blogger billy said:
sorry line 1 should have read

"Whilst Norm Stacey might not have had a legal case against Watson & Fishers......"
On 5 September 2016 at 1:40 pm blogger billy said:
JP

Not difficult at all

A KiwiSaver member saves $500 per month via wages and employer contributions into a higher cost fund which returns 4.5% pa

He/she gets $277,535.88 after 25 years

Another member finds a fund that cost 50 basis points less and so get 5% pa return

He / she gets $298,995.50 after 25 years

The impact is over $21,000 difference

real life and easy to understand

see the Canstar report for KiwiSaver fees

Lowest balanced fund was 0.78%

Highest balanced fund was 1.64%
On 6 September 2016 at 7:47 am MPT Heretic said:
Well done Carmel and Hugh. Well done for creating a successful business with obviously happy and satisfied investors. Well done for being prepared to put everything on the line in the early days and for being able to reap the rewards now
On 6 September 2016 at 2:17 pm blogger billy said:
After 25+ years in this industry, looking after OPM, I have learnt one important question that must be asked again and again

"who are the people behind this fund" ?


I think that is what my clients would want me to do

So I do it, again and again, and I often walk away

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