A run-down bungalow just a few streets away from where the Block NZ was filmed last year has hit the market with an asking price of just under $2.3 million.
That's almost as much as what buyers paid for each of the new-build homes in the renovation show's grand finale.
Ray White agent Derek von Sturmer, who is marketing the three-bedroom property at 21 Johnstone Street, in Auckland's Point Chevalier, said it was the last unimproved house standing in the suburb's desirable northern side.
"The last time we had anything in this condition was at the start of 2020, and that sold for $2.792m," he said.
Start your property search
"But this location is pretty special. There is literally nothing old down there - this is the last dump. Elsewhere it's all established houses and beautiful architect houses. You could spend whatever you wanted on the build in this spot. There's nothing like it in Auckland."
The house sits on a 696sqm site near the water, facing the Meola Reef.
Von Sturmer said the neighbourhood had a strong community spirit, with residents hosting street parties at Christmas and Halloween.
The price expectations on 21 Johnstone Street is just over $500,000 less than the top price paid for the winning Block NZ town house on nearby Huia Road.
The run-down bungalow at Point Chevalier sits on a valuable 696sqm site a few houses away from the water. Photo / Supplied
The three-bedroom bungalow, which has original fireplaces and leadlight windows, has not been lived in for some time. Photo / Supplied
Von Sturmer said there was strong demand for top-end homes in the suburb, citing the buyer interest in an architect-designed house on Harbour View Road. The property is under contract for a sum close to the asking price of $5.295m.
Ray White agent Ross Brader, who is jointly marketing 21 Johnstone Street with Von Sturmer, told OneRoof that the property hadn't changed since he started working as an agent in the area in the mid-1990s.
“It had been in the same family for decades. The original title for the land goes back to 1912,” he said.
The vendor, who bought the property in an off-market deal last year, said she and her husband had planned to build a dream home on the site but the timing wasn't right.
“Point Chev has got some amazing architects and we had planned to do a gorgeous new house - an L-shaped design wrapped around a swimming pool,” she said.
“It will be nice for it to go to a local family, Point Chev people just don’t move once they’re here."
The property’s current CV of $2.65m lies mostly in the land.
The 94sqm bungalow is in near-original condition. On the plus side, that means two arts and crafts-style tiled fireplaces and intact leadlight windows, but the downside is ancient kitchen cupboards, old bathroom and a third bedroom that measures just 5.3sqm.
Block NZ 2021 winners Tim and Arthur celebrate outside their house in Point Chevalier. The property fetched $2.825m. Photo / Supplied
While the property is zoned for suburban density, and developers have been interested in the property, Brader said at least half the interest had come from families keen to keep it as a single home.
“This is one of the landmark properties, north of Meola on a full site, near the water. You could have complete confidence if you build or renovate that you could have a home worth $5m,” he said, adding that some buyers were even considering keeping parts of the original house.
“We’ve seen worse dumps in Grey Lynn and Ponsonby turned into luxury houses with brand new out the back. Under the new regulations, if you went up to three levels, you could see the Harbour Bridge.”
