A holiday home project abandoned more than 20 years ago could be one of the cheapest properties to sell in the tightly-held Queen Charlotte Sound.
The property, on a 4060sqm waterfront section, in Snake Point is going under the hammer tomorrow in an estate sale.
The structure, which is a Fraemohs design using interlocked timber, is being sold in “as is where is” condition and, like most of the properties in Queen Charlotte Sound, can only be accessed by boat.
The build started in the early 1990s – with the permit granted in 1992 and work beginning in 1994. The subflooring was signed off in 1997 and the exterior of the home was put up.
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Bayleys listing agent Georgia Ryan said that’s as far as the build went and it’s been on hold since due to unforeseen circumstances.
The owner has died and her husband, who hasn’t set foot on the property in more than a decade, has decided to sell it.
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“It’s just a shell. It’s got four walls and windows and doors and that’s it.”
There’s also no formal track to the property.
Absolute entry-level properties in Marlborough Sounds are usually in the $400,000s, Ryan said, while those in Queen Charlotte Sound sell for slightly more. The median sales price for Marlborough Sounds is $800,000, according to OneRoof data.
The property is an empty shell ready for the new owner to finish. Photo / Supplied
The property is being advertised with a CV of $140,000 and Ryan is encouraging anyone with interest from that level upwards to come to auction.
“But for this opportunity our vendor is realistic about achieving a result. He’s not coming back to the property so it will be sold on auction day.”
Properties in Queen Charlotte Sound are tightly held and are usually passed down through generations, she said. The area is a 30 to 40-minute boat ride from Picton.
At the time of publishing, there were currently 13 properties in Marlborough Sounds listed for sale on OneRoof and six for Queen Charlotte Sound.
The unfinished dwelling is the only property in Snake Point currently on the market and only the third property in the area that has been for sale in Ryan’s 12 years in real estate.
Properties in Queen Charlotte Sound are tightly held and usually passed down through family. Photo / Supplied
“There’s very few properties on the market in the inner Queen Charlotte Sound at all – that's including houses and bare land.”
Ryan said it will suit someone looking for a holiday home and prepared to take on a project, or someone wanting an investment property.
“Of course, there’s a lot of work involved with building a place in the Sounds – but having something that’s already got the foundations in place in particular is really, really helpful. So, it’s a cool opportunity for someone who has the skills, time and energy to put into something like that, and probably the dream.”
- Click here to find more properties for sale in Marlborough Sounds
