A large traditional Kauri weatherboard four-bedroom villa on a full flat Auckland site has been advertised for $599,000, just over half the city's average price of $1 million.
In what appears to be a bargain and following low prices on TV3's The Block NZ last night, the big house with stained glass windows and on a 704sq m site at 19 Woodhams St in Beach Haven was advertised by Ray White agents at the low price.
However, photographs indicate extensive work is required and advertising carried the rider that "Victoria needs a makeover".
In an indication of the popularity of the sale, all open homes have now been cancelled and the site is under offer.
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Auckland Council showed the full valuation of only $510,000 including land at $265,000. But that valuation was dated 2014. The property has annual rates of $2424.14, the council's website shows.
One agent involved in the sale said the property had generated "a lot of interest. But there's a lot of work required. We had a lot of offers on it. There's a conditional offer and an unconditional backup offer," she said today.
Advertising encouraged buyers to roll up their sleeves, bring a hard hat and tools.
"This turn of the century grand old lady sits proudly with real presence on a flat freehold site of 704sq m (more or less). Her character and charm will win you over, with her original period features including stained glass windows, wide native Kauri floors and weatherboards plus four enormous bedrooms and all with 'cathedral like' high ceilings," Ray White said.
The house with just one bathroom had been relocated from Greenlane 30 years ago and had a peaceful bush outlook. The owner had lived there for 25 years, advertising said.
Offers seem to be well over the $599,000 advertised. One agent who asked not to be named said: "You don't know what it sold for yet."
Houses nearby have valuations in the $730,000 to above $820,000 league.