Asking price for Kingston Flyer operation drops

The vintage steam locomotive AB795 (above) and its sister AB778 sit exposed to the elements in Kingston. Photo by James Beech.
The vintage steam locomotive AB795 (above) and its sister AB778 sit exposed to the elements in Kingston. Photo by James Beech.
The asking price of $2.5 million for the Kingston Flyer has dropped for the first time since the historic steam train operation was shut down and put up for sale almost a year ago.

Owner David Bryce, of Renwick, said yesterday the new asking price of $2.1 million was because he had withdrawn some residential land from the package. Mr Bryce said he had ''no plans'' when asked if the land, newly separated from the Flyer package, would be marketed separately.

Adrian Chisholm, of sales agent Tourism Properties, said the reduced land area of seven titles and asking price of $2.1 million made the sale more attractive for someone seeking to buy the Kingston Flyer and associated land and buildings.

New Zealand travel consultant David Rowell, of Seattle, is understood to be aware of the matter as it came up during discussions after his offer in February of $1.25 million was declined.

The updated Tourism Properties listing online said the Quotable Value rateable land value and improvements value of the remaining 79.7051ha of land and associated buildings totalled $1,050,000.