Tiny Arrowtown cottage is going for $1.85 million

A historical one-bedroom, one-bathroom Arrowtown cottage – bought about 70 years in the past for £350 – offered this week for $1.85 million.

The valuables at 53 Buckingham St offered at a Bayleys Arrowtown public sale on Tuesday, with bidding opening at $1.35 million, attracting 20 bids.

Straight away beside Arrowtown’s The Fork and Faucet, the home sits on 286 sq. metres inside the city’s historical zone.

Gross sales agent Nick Newman, who advertised the valuables together with his father Richard Newman, mentioned there used to be a “huge” quantity of passion from native and out-of-town shoppers, with the bulk making plans on the use of it for industrial functions, as a vacation house or a personal place of abode.

The valuables, referred to as Cowie cottage, after the circle of relatives who lived in it for a number of years, used to be bought by means of Hugh Thomas within the Sixties and lines within the opening montage of TVNZ’s Seven Sharp.

It had most effective had two homeowners because the early Nineteen Forties.

The 1890 miner-style cottage used to be to begin with used as a chemist/dispensary by means of Edsell Gruber, the mayor and Arrowtown councillor of the time, from about 1877 to 1890, and till 1905 it used to be utilized by William Selby as a tailor store.

Additionally offered at public sale on Tuesday used to be a six-bedroom, four-bathroom house, on 931sqm, at 384 Frankton Rd, advertised by means of Wayne Cafe and Eric Wilhite.

Opening with a pre-auction be offering of $1.3 million, it attracted 28 bids and offered for $1.525 million.

The most recent public sale brings Bayleys Queenstown and Arrowtown’s overall year-to-date gross sales worth to $155,897,500, with an public sale clearance charge this monetary year-to-date of 85%.

Subsequent Friday the company will hang a “mega-auction” in Queenstown, being referred to as by means of two auctioneers, nationwide public sale supervisor Conor Patton and George Yeoman.

As much as 30 houses are going beneath the hammer, together with two business houses, one in Glenda Dr and the opposite in Business Position.

tracey.roxburgh@odt.co.nz

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