- Two Christchurch families bought Akaroa’s historic five-bedroom Corboy House for just under $600,000.
- The 1860s villa served journalists as holiday accommodation for nearly 60 years.
- Insurance hurdles and extensive repairs deterred buyers, but the new owners plan to restore it.
Two Christchurch families have joined forces to buy a historic home in the Canterbury coastal town of Akaroa.
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Harcourts listing agent Jackie Maw said the five-bedroom villa on Rue Balguerie had fallen into disrepair and was a “rare opportunity” to buy one of Akaroa’s landmark homes at an affordable price.
The property, which dates back to the 1860s, had been used for nearly 60 years as holiday accommodation for journalists.
Maw told OneRoof that the buyers paid just under $600,000 for the property – well below the $725,000 RV.
“It’s two families, local to Christchurch, who are determined to restore her to her former glory. They’ve got the attributes you need for that job, and they’re looking forward to it as a project.”
She said the two families expected to use it as a holiday home, although they might consider turning it into a short-term let once they renovated it.
The villa had been used by journalists and union members as a holiday retreat since the late 1960s. Photo / Supplied
Listing agent Jackie Maw says the property has attracted a lot of buyer interest. “It would be great to see it done up.” Photo / Supplied
The property has an RV of $725,000 and has been pitched as affordable. Photo / Supplied
The property attracted strong interest after it hit the market in June, but insurance difficulties put off a lot of buyers, Maw said.
“The insurance was the difficult part. They really did make [the purchasers] jump through some hoops. But suffice to say, they decided ‘Bugger it, we’re going to see this through to the end’, and they did. In my experience with any pre-1950 house, the insurance companies are making, at times, unrealistic demands, which I think was the result of the earthquakes.”
Maw said she would have hoped to get more than $600,000 for the five-bedroom colonial home, but the amount of repair work needed brought the price down. But it was still a “good news story” that the home would be restored, she said.
Maw previously told OneRoof that it would be great to see the house brought back to life. “This is probably one of the most iconic historical properties that’s fallen into disrepair but has come to market,” she said in June.
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The historic home began life as a retreat in 1967 after being acquired by The Press journalist David Corboy, who later transferred ownership to the local branch of the former New Zealand Journalists Association.
Austen Calder, the former president of the Corboy House Trust, which looked after the property on behalf of the union E Tū, told OneRoof in June that he’d been dipping into his own pocket to keep the doors open as a retreat. “The value has increased, and the rates and insurance have skyrocketed. I have been dipping into my own pocket for a while, to pay rates [and other costs].”
E Tū said the trust had not decided what to do with the funds, “but the trust requires them to be used for the benefit of members of the journalists’ union and its successors”.
Maw told OneRoof in June that the cost-of-living crisis and the war in Iran had boosted interest in Akaroa’s holiday homes. “I’m dealing with a lot of people who are selling up in Queenstown, Wānaka, Twizel, and they’re buying here in Akaroa.”
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