Ferntree Lodge pictured in 2006. Photo by staff photographers.
Ferntree Lodge was put on the market after a High Court decision ordering forfeiture of at least $2.5 million of seized goods belonging to Swann family trusts.
Bidding at the July 12 auction started at $350,000 and reached only $450,000, which was below the Crown's reserve and passed in by the auctioneer.
"We're still talking with people and negotiating," Bayleys real estate agent Bev Walker said yesterday.
"There has been a lot of interest and, hopefully, something will happen quite soon."
Ferntree Lodge has a government valuation of $905,000 and the Dunedin City Council website lists the property's rateable value at $1.55 million.
