Luxury lodge fails to sell at auction
A luxury Marlborough lodge valued at $1.2 million did not sell at auction yesterday, although the agents said there was interest from overseas buyers.
Clouds Luxury House was built in 2008 for $1.9m, including land and improvements, by award-winning Marlborough builder Andrew Lawson.
The Renwick property was designed to resemble a 17th century hunting lodge and is run as a high-end bed and breakfast.
Co-owner Sandra Banham said she and her husband, Bill, decided to sell the property 10 months ago after he got a job in Nelson.
"The fact is that my husband works in Nelson, he has a flat there. It is all, at our age, a little bit fragmented.
"It just makes more sense not to have the worry."
Health was also a factor in the decision, Mrs Banham said.
"If we were in our 30s, we would have held on. We are in the same boat as a lot of people with property that is not worth what it was when we paid for it."
She was not concerned the property had not sold at auction.
"The auction is not the beginning and end of it, it is a process. It gets people talking out there in the marketplace."
Bayleys listing agent Jackie Herkt said the sale of the property was a good opportunity for someone to buy a well-built house.
More than 20 people attended the auction of the lodge and eight other properties at Bayleys Marlborough. Clouds Luxury House is listed on the market for $1.2 million.