- A property trader relisted a fire-damaged home in South New Brighton, Christchurch, after plans to renovate.
- The trader bought the “as is, where is” bungalow for $368,000 but received no insurance payout.
- Builders and developers are interested in the 759sqm site, with plans to build a new home.
A property trader who picked up a junk-filled home last year has been forced to relist it after a devastating fire left him with nothing to renovate.
Start your property search
The trader paid $368,000 for the “as is, where is” bungalow at 104 Estuary Road, in South New Brighton, Christchurch.
He beat six other bidders at a heated auction in March last year, and planned to renovate and resell it.
It was an odd home to be fighting over. The listing on OneRoof described the property as “not for the faint-hearted” and warned buyers would need hard hats to view it. “The lawns and gardens are overgrown, the yard has car bodies, there’s even a caravan, someone’s junk is another man’s treasure, so be sure to check it out,” the listing said.
Only some of the framing remains at the Estuary Road home. Photo / Supplied
However, just weeks after he took ownership, a fire tore through the property, destroying the house and leaving only the framing.
Harcourts Grenadier listing agent Harsh Singh told OneRoof that his client was in the dark as to what caused the blaze. “They are still trying to figure it out,” he said.
“But unfortunately, because it was ‘as is’, they haven’t had anything from the insurance company, so they just want to get it sold.”
He said: “It’s burnt – almost 70%.”
Discover more:
- House prices rising fast in tiny South Island town with 200 people
- How NZ’s oldest pub was saved from the scrapheap
- Glue Brothers’ historic mansion for sale - ‘it’s going to survive anything’
The property was listed for sale at the end of last year with a different agency and had a fixed price of $380,000 before it was withdrawn from market in January.
Singh took on the listing this month but declined to give a price indication, adding that the auction process would let the market dictate the price. “There’s been really good interest, and we are hoping to get it sold on the day.”
He said builders and developers had signalled plans to clear the 759sqm site and build a new home. “I think someone will come up with a plan.”
What the house looked like a year ago. Photo / Supplied
The property was littered with junk and had been billed as “not for the faint-hearted”. Photo / Supplied
Singh said New Brighton was a popular option for buyers because it was still viewed as affordable. “It’s a great location, easy access to the beach and all,” he said.
“New Brighton and South New Brighton will hopefully be the next boom in the Christchurch market.”
- 104 Estuary Road, in South New Brighton, Christchurch, goes to auction on April 30
