Lucky buyer lands entire town at Aussie house price
The 14 hectare town went viral with its price guide of over $2.9m NZ dollars (about $2.62m AUD). Picture: One Agency The Property Specialists.
A new owner has been found for an entire town that went viral priced like a capital city house – but there’s a catch that could give others hope.
Real estate agent Kelli Williams of One Agency The Property Specialists confirmed the owner of an entire town called Lake Waitaki Village has accepted an offer put forward for the stunning estate.
“An offer has been accepted and is now in place for the sale of the village,” she said.
But in a stroke of luck for those who may still feel they have a chance, she added, “it is a conditional offer, and therefore we will continue marketing the property until it is unconditional”.
The views are breathtaking. Picture: One Agency The Property Specialists.
The historic Lake Waitaki Village was built to help create the hydro-electric dam that it is located next to. Picture: One Agency The Property Specialists.
There are eight three bedroom houses on the site. Picture: One Agency The Property Specialists.
MORE: Distress list: 34 homes set for forced sale
Key electorates to swing on housing crisis, new poll warns
Hundreds of people had inundated agents with interest in the tiny town which was up for sale via an expressions of interest campaign that closed February 28, with a price guide over $2.62m ($2.9m NZD) plus GST, which is about as much as it costs to buy a decent house in most Australian capital cities these days.
No details have been revealed of who the top offer came from at this stage, nor if an Aussie has managed to land the property given huge interest out of here.
“The details of the offer and name of the purchaser are confidential,” Mr Williams said. “Back up offers may be considered at this time.”
The rare opportunity is located across the ditch in New Zealand – three hours and 21 minutes by car from Queenstown according to Google Maps – though it has two other smaller ski fields nearby, as well as the famous Alps to Ocean cycling trail running through it, and all the water activity you could want alongside it.
Known as Lake Waitaki Village, it was first built in the 1930s to help create the hydro-electric dam that it is located next to and has a price guide of over $2.9m NZ dollars (about $2.62m AUD).
Her colleague real estate agent Alan McLay of One Agency The Property Specialists said earlier that they were fielding buyers from “everywhere”:
“It’s not often you have a town for sale. Interest is huge and it’s gone viral,” he said. “We’re loving the interest.”
He said many Australians were among those keen to get stuck in – most commenting on the price being equivalent to suburban homes – especially given recent surges in Aussie cities like Sydney, Brisbane, Melbourne Adelaide and even the Gold Coast.
MORE: Rare Aussie cyclone to smash homes of rich and famous
$117,000 shock: Cyclone Alfred exposes devastating shortfall
There are opportunities for boat ramps to be set up to make the most of water sports and fishing in the area. Picture: One Agency The Property Specialists.
The view of the village from the dam. Picture: One Agency The Property Specialists.
MORE: Listed: Every housing hand-out you can get
No-go zones: Worst suburbs for investors revealed
“It’s an amazing property for the right buyer,” he said. “There’s quite good potential for a really good holiday park that’s in the middle of skiing country. There’s a strip of land up on the edge of the lake that is also a part of the property so there’s possibilities for boat ramps, swimming, jet skis, waterskiing, and the cycling route through it. This could be very, very good.”
There is a “majestic” 585sq m lodge with manager’s accommodation guest reception, a grand formal lounge, and large billiards room, he said.
There were also five studio suites in the main lodge – most of which are renovated, as well as eight three-bedroom character homes – two of which were recently refurbished.
MORE: Qld cricket power couple’s multimillion dollar bounce back
Payne Haas’ year: New coach, new bub, new house
Beautiful view from the dining room. Picture: One Agency The Property Specialists.
There is a bar set up on site. Picture: One Agency The Property Specialists.
A fully kitted out commercial kitchen was set up for the owner’s daughter who ran a restaurant for two years there. Picture: One Agency The Property Specialists.
It also has a 190sq m fully functional restaurant which the owner had kitted out to entice his daughter to return to New Zealand.
“The vendor set it up for his daughter who was overseas. She came home and decided, after running it for two years, that she wanted to go back overseas. It’s fully equipped and all there. There’s real potential for somebody to come in and develop it into something pretty good.”
Mr McLay said they had listed the property for sale five years ago. “We had a very good offer, but one of the sellers was not so motivated to sell at that stage and so it all fell over. But this time, they are definitely motivated and the timing is good. Development in that area is coming further and further down the valley. It’s good timing.”
The property includes significant waterfrontage. Picture: One Agency The Property Specialists.
The 1930s era reception. Picture: One Agency The Property Specialists.
He said the site was the oldest among the hydro-electric power stations set up along the river.
“We live in probably the driest part of New Zealand, and we’ve got this large river that flows right down the valley. In 1930 the first power station was built at the Waitaki village – which is what we’re selling. Now there’s six power stations down the valley, and it’s very fertile, there’s irrigation and it’s very good, but this one was the first, and so it’s quite historic.”
He said the property would also suit those who love motorcycles given the epic rides in the area.
“This is the sort of property that would be great for that, because being a motorcyclist in the past myself, there’s some great rides up the Waitaki Valley.”
“For cyclists, one of New Zealand’s most recent trails that’s been very popular – the Alps to Ocean – goes through the property.”
“There’s a little town of under 1000 people close by and then further north, about 30km, is a town that’s gone from hydro village to a sought after resort just in the last three years. So it’s coming down the valley now to us.”
“Just over the hill there’s a little ski field which is quite popular.”
The stunning location is an adventurer’s paradise. Picture: One Agency The Property Specialists.
There are also five studio units in the lodge. Picture: One Agency The Property Specialists.
He said the property did not spark much interest when it was listed around Christmas, but January saw a flood of interest from “everywhere” after the listing showed just how much property the successful buyer could land.
“Located on a popular tourism trail just to the west of Kurow, this historically significant 1930s complex sits poised on the edge of picturesque Lake Waitaki, alongside the famous Alps to Ocean cycle trail,” was how he marketed it.
The property was for sale as is, with agents still considering offers until the property goes unconditional.
