100-year-old villa fetches $843,000

20:16, Apr 06 2014
timaru villa
POPULAR PROPERTY: The auction of a Park View Tce property drew a large crowd in Timaru.

A Park View Tce house in Timaru sold at auction for $843,000 to an anonymous purchaser on Saturday.

Built in the early 1900s the three-bedroom house has two bathrooms, double garaging and a view eastward of the sea and Dashing Rocks. The kitchen has been renovated and it has a new bathroom.

First National Reid & Wilson principal and licensed auctioneer Peter Wilson, who led the auction, said he was not surprised by the price it went for.

"There has been a lot of interest with more than 30 people looking through the property," he said.

He said it was a spirited and exciting auction but would not reveal what its reserve price was.

On the property.trovit.co.nz website it was being offered as a develop or renovate property from $600,000 to $1 million. It was purchased by a local law firm on behalf of an anonymous buyer.


The Timaru Herald