- Christchurch developer Jack Lourie bought a quake-damaged mansion for $1.37m last year.
- Lourie spent double his budget and time repairing the property, adding significant upgrades.
- The revamped home, with an RV of $2.8m, is set for auction next month.
Christchurch developer Jack Lourie didn’t think he’d win the auction for the quake-damaged mansion at 17 McAllister Avenue, in Merivale, last year.
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He was one of several buyers who turned up to bid on the four-bedroom architectural home, which was being sold “as is, where is”.
To his surprise, his bid of $1.37 million was unbeatable on the day – kicking off the massive one-year project.
The Jaxx Property Acquisitions director blew his budget and his schedule repairing and upgrading the property.
The kitchen before the renovation. Photo / Supplied
The new kitchen brings the home into the 21st century. Photo / Supplied
It might all be worth it, though, as he prepares to take the revamped trophy home to auction next month.
Lourie told OneRoof why he took a punt on the property. “I have done over 400 ‘as is, where is’ houses so I can’t help myself when a good house comes up,” he said of his fateful decision last year.
The property had been damaged in the earthquake 15 years earlier and was uninsured, making it only suitable for developers and builders.
Lourie enlisted a team of external contractors who spent a year breathing life back into the tired home.
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“We had thought it might take less than six months. It’s taken us a year as it’s been such a massive job to do it properly. At one point there were up to 30 people on site.”
Not only did it take twice as long as he initially planned, but it had probably cost twice as much, he said.
It’s easy to see why. Lourie’s team reclad the house, hired prominent landscape architecture firm Kamo Marsh to do the gardens and reinstated the large inground swimming pool.
The interiors were repainted, and a new kitchen, new bathrooms and new flooring were installed. An extra 10 to 15sqm extension was also added to the four-bedroom, three-bathroom home.
Lourie said it was important to him that the original architecture remained as pictured before the renovation. Photo / Supplied
The finished result is a light and airy home with high ceilings and a good indoor-outdoor flow. Photo / Supplied
Lourie said those who had seen the house “before” and “after” had been blown away. “People can’t believe the change and how the spaces have improved. They love the architecture,” he said.
“It has a very large ground floor master bedroom so it might suit boomers or downsizers who appreciate great architecture and a great location but still want space for adult children and grandchildren to stay.”
The house, which is listed for sale with Harcourts agent Cameron Bailey, has an RV of $2.8m, but Lourie would not be drawn on price.
- 17 Allister Avenue, in Merivale, Christchurch, is going to auction on June 18
