Picture this: you're a high-profile radio host with a passion for speed, but the ultimate motorsport-inspired dream home slips through your fingers. That's the reality for New Zealand's bold commentator Mike Hosking, who just couldn't snag this extraordinary Cromwell property. But here's where it gets controversial – the strict buyer restrictions turned it into an elite club, raising questions about accessibility in the luxury market. Stick around to discover how three unlikely families from the West Coast ended up claiming it instead, and why this tale might change how you view exclusive real estate deals.
Mike Hosking's dream home in Cromwell has found new owners, after he passed on the opportunity.
Three families from the West Coast have secured the stunning motorsport-themed mansion following a significant reduction in price.
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Monaco Drive in Cromwell, Central Otago, has attracted buyers who share a thrill for high-speed adventures. Photo / Supplied
- The Cromwell residence, initially offered to Mike Hosking, was purchased by three West Coast families.
- It fetched $2.1 million after a $450,000 price cut and stringent buyer limitations.
- The new owners plan to transform it into a car showroom, keeping the prized vehicle collection on display.
Bad luck for Mike Hosking (https://www.nzherald.co.nz/author/mike-hosking/). The multimillion-dollar Cromwell abode that racing fan Mark Guyton specifically targeted to the Newstalk ZB presenter last year has gone to three West Coast families instead.
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In September 2024, auto enthusiast Mark Guyton made headlines when he publicly urged Hosking to acquire his four-bedroom showcase home, which boasts views of the Highlands Motorsport Park in Cromwell, via OneRoof (https://www.oneroof.co.nz/news/mike-hosking-please-buy-my-house-you-know-youll-love-it-46208). For beginners unfamiliar with 'trophy homes,' these are standout properties that often come with unique features, like proximity to exciting venues such as race tracks, making them highly desirable for enthusiasts.
'Mike Hosking is crazy about cars. He owns some fantastic vehicles and frequents Highlands Motorsport Park too. He'd be a perfect fit for this place,' Guyton remarked.
The upstairs living area displays a portion of the homeowner's impressive car lineup. Photo / Supplied
Newstalk ZB presenter Mike Hosking chatted about the property on his morning program last year. Photo / Michael Craig
Hosking enthusiastically covered the home – along with Guyton's clever assortment of racing cars showcased in the upper-level lounge – during his radio show the following day, but decided it wasn't the right match for him.
Marketing the Monaco Drive residence proved challenging, even with a $450,000 price reduction. Purchases were limited to Highlands Motorsport Park members, who faced a $15,000 membership fee plus nearly $5,000 in yearly subscriptions. This exclusivity could be seen as a barrier to entry, potentially limiting the pool of interested buyers and sparking debates about whether such requirements make luxury homes more about status than accessibility.
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Top real estate agent Keeley Anderson from Tall Poppy shared with OneRoof that she facilitated a joint purchase for the property among three families from the West Coast. 'They all contributed to shared ownership. They're genuinely great folks,' she noted, explaining that they intend to maintain the collectible cars at the site.
'It'll essentially serve as a car showroom.'
Originally marketed at offers over $2.7 million, the home ultimately sold for $2.1 million, a sum that pleased Guyton. 'It's gone to the ideal buyers, and that mattered to me just as much as the financial aspect.' He even parted with his cherished replica 'Lap of the Gods' car, inspired by V8 Supercar legend Greg Murphy's vehicle, as a separate transaction. 'I'll certainly miss that one,' he confessed.
The estate includes a custom vehicle elevator where the 1967 Fiat Bambina is parked. Photo / Supplied
The grounds provide a vista of Highlands Motorsport Park. Photo / Supplied
Guyton and his spouse Joan have relocated to a bigger property nearby and will distribute their car collection between their new abode and their Christchurch residence. 'We'll settle into the new place, keep a few cars there, and transport many back to Christchurch for home enjoyment.'
When the Guytons first acquired the Cromwell home, it accommodated eight vehicles, but renovations – such as adding a dedicated car lift to the upstairs lounge – boosted capacity to thirteen.
Guyton also cherishes a rare Greg Murphy Maloo ute, one of only ten Holden Commodore utes crafted in that specific design. For those new to motoring terms, a ute is a utility vehicle popular in New Zealand and Australia, often customized for both work and pleasure.
Track excitement. Photo / John Cowpland, Bruce Jenkins
Not every vehicle in the Guytons' collection is a powerhouse racer. A 1967 Fiat Bambina 'bubble car' also takes center stage in the upper showroom. To clarify, bubble cars were tiny, economical European vehicles from the mid-20th century, known for their quirky, egg-shaped design and fuel efficiency.
These automobiles aren't mere showpieces; Guyton ensures he drives them regularly. 'All the roadworthy ones are fully certified and registered, ready for any outing.'
Guyton recently observed that the home is notably serene when races aren't happening. 'After four in the afternoon, it transforms into one of the quietest neighborhoods imaginable.' And this is the part most people miss – the dual life of living near a lively track, blending adrenaline with peaceful downtime. Imagine the contrast: the roar of engines during events versus the calm suburban vibe afterward, adding an extra layer of appeal for car lovers.
- Check out additional Cromwell properties available (https://www.oneroof.co.nz/search/houses-for-sale/suburbcromwell-central-otago-4186page_1)
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Chosen for you
Now, let's turn the spotlight on you: Do you believe that imposing high fees and membership rules on home sales is fair in a world where everyone dreams of their perfect property? Or is it just a clever way to keep the passion for motorsports among the elite? What if this approach actually preserves the unique character of such homes – do you agree, or does it feel exclusionary? Share your opinions in the comments below; I'd love to hear differing views and spark a lively debate!
