One of Wanaka's oldest cottages on a prime lakefront site has sold for an undisclosed sum after being passed in at auction last weekend.
Bayleys Wanaka director Mat Andrews, who was marketing the property, said after three days of negotiations, the property at 159 Lakeside Rd sold unconditionally last night to Southland farmers - the only people to bid at Saturday's auction.
Their single bid was for $620,000 for the two-bedroom, 70sq m house. The property, which has a rateable value of $720,000, was passed in on a vendor bid of $680,000.
Because the property sold after auction, Mr Andrews said he could not disclose the final price. While the new owners had no immediate plans for the site, he understood they would be building on it in the future.
It is believed the cottage was built in the 1880s. It was originally owned for 42 years by the Templetons, a long-time Upper Clutha family.
Former owner Dr Charles Briscoe, of Queenstown, had the cottage for the past 23 years.
In April, a two-bedroom, 30-year-old cottage at 177 Lakeside Rd sold to a Christchurch couple for $1.1 million.
