- A fire-damaged Hamilton home sold for $721,000 after 12 buyers registered to bid at auction.
- The new owner is in the building industry and plans to repair the property.
- The previous owners, a young family, had bought it for $1.3m before the fire.
A Hamilton home gutted by fire just two weeks after its new owners moved in has sold for over $700,000, after opportunists crowded the auction.
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Twelve buyers turned up to bid on 32 Glaisdale Crescent, in Flagstaff, this week, and fought hard to own the property.
Bidding opened at $600,000 before quickly climbing in increments of between $10,000 and $20,000. The property was announced on the market at $700,000 and eventually sold under the hammer for $721,000 after more than 30 bids.
What the house looked like before the fire. Photo / Supplied
The property was pitched to buyers last year as an “urban oasis”. Photo / Supplied
The new owner is in the building industry and plans to repair the property, which had an RV of over $1 million before the fire.
The four-bedroom house was owned by a young family, who purchased it in August last year for just over $1.3m. They had just moved in and were starting to feel at home when, during a quick trip to the shops, a fire erupted in the garage and destroyed the house.
Lodge agent Yvenna Yue said the sale price had exceeded expectations by almost $100,000.
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The sale meant the vendors could now move on and buy their next home. “They haven’t had a place to call home for seven months. They’ve been in limbo – getting things assessed,” Yue told OneRoof.
The family had started the process of getting it rebuilt using the insurance payout, but they ended up walking away from it, she said. “It wasn’t feasible.”
The four-bedroom home was built by Armstrong Homes in 2017 and was listed as an “urban oasis” when it was on the market last year.
The damage caused by the blaze left the house uninhabitable. Photo / Supplied
The garage, where the fire started, bore the brunt of it. Photo / Supplied
The kitchen and bathrooms have escaped demolition for now. Photo / Supplied
Yue previously told OneRoof that the fire had rendered the home uninhabitable. “It was their first home in New Zealand, and they really loved it,” she said.
The home’s interior, from the roof cladding and structural framing to the flooring, joinery, plumbing and electrics, will need significant repairs. Most ceilings and walls have been removed, exposing the timber beams.
The two bathrooms and kitchen have escaped demolition for now, while the covered portico with outdoor fireplace, heated in-ground pool and spa are in their original condition.
Yue said almost everyone who had looked at the property had been “opportunists with know-how”.
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