What was once a beloved Auckland landmark, the Waiwera Hot Pools, now lies almost entirely demolished, marking a bittersweet end to a decades-long era of fun for many.

The waterpark, which closed for renovations in February 2018, never reopened, leaving a void in the hearts of locals and a question mark over its future.

The story took a dramatic turn when the then-owner, Russian billionaire Mikhail Khimich, defaulted on rent payments, leading current landowners Urban Partners to cancel the lease by the end of 2018.

Mismanagement and Khimich's subsequent departure from New Zealand, where he later died from COVID complications, left the waterpark in disrepair.

However, there's a glimmer of hope on the horizon.

Urban Partners, acknowledging the site's potential, plans to invest a staggering $250 million to breathe new life into the forgotten destination.

Their vision includes a modern waterpark with pools and slides, a luxurious day spa, a hotel complex, a wellness centre, a microbrewery, and even apartments. Their website currently seeks expressions of interest for a joint venture partner or outright purchase of the "iconic location."