A modest cottage gifted to a small West Otago town has sold just under its asking price for $275,000 with the proceeds going to a small community-owned retirement home.
The three-bedroom home on Cemetery Road, in Tapanui, was put on the market earlier this year after its owner and long-time resident Bill Henderson died at the end of 2022.
Henderson bequeathed his entire estate, including his home of 20 years, to the West Otago Health Trust, which administers the assets of the medical centre and nearby rest home, earmarking it specifically for the Ribbonwood Country Home.
The former forestry workers home, which is on the outskirts of the Tapanui township and has a breathtaking rural outlook, passed in at auction in September and an asking price of $279,000 was then put on it.
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A month later it was snapped up for $275,000 – just under the asking price and significantly more than its 2020 RV of $210,000.
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Ray White Gore listing agent Nicole Cronin said the property was purchased as a project by a local first-home buyer.
The property was described in the listing as having plenty of potential for someone to stamp their mark on it, while also making a positive contribution to the local community.
Residents had all been pleased to see the sold sign going up, she said, because they knew it meant that the rest home would now get the well-timed funding boost.
A first-home buyer has bought it as a renovation project. Photo / Supplied
The property was on the edge of town and had breathtaking views. Photo / Supplied
“Everyone is just so grateful. It’s such an amazing gift.”
Cronin, who is also on the West Otago Health Trust board, said the trust was very happy with the result.
In July this year, a new wing with five new beds was added to the rest home bumping the total number of beds to 19.
The additional beds meant that the rest home would now be able to provide palliative/respite care for people in the town rather than them having to travel out of the district.
The Cemetery Road property settled two weeks ago, and the trust expected the money from the estate to land in its account any day.
The Ribbonwood extension had been paid for through fundraising efforts and raised capital so Henderson’s contribution would help ease the pressure, Cronin said. “This is a huge boost.”
Henderson was well known in the town and ran the Gallery One Café with his partner from the former bank building until their retirement about 10 years ago. He was also involved in the theatrical society.
Meanwhile, two GJ Gardener homes that were unsuccessfully auctioned for charity both in South Auckland and Hamilton are still for sale.
A brand-new four-bedroom, two-bathroom home at 10 Uatoto Road in Clarks Beach, Franklin, is priced by negotiation after passing in at $950,000 in September. The property is now priced at $999,000.
While a new three-bedroom, two-bathroom home at 14 Akakura Terrace in the new Peacocke subdivision, Hamilton South, also passed in at auction last month and is now for sale for $969,000.
Any profit from the Clarks Beach sale will go to the Big Buddy charity, while Rainbow House will benefit from the sale of the Hamilton South house.
- Click here to find more properties for sale in Tapanui
