The Taupō bach owned by one of New Zealand’s wealthiest families has returned to the market, after failing to attract a deal-making offer earlier this month.
The three-bedroom “fisherman's cottage”, which sits on 1.21 hectares of land on the Western Bays of Lake Taupō, has been a holiday getaway for the Richwhite family for more than 100 years.
It first hit the market in February and was for sale by tender, closing at the end of March, but the property was relisted and is now priced by negotiation.
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Bayleys listing agent Alison Whittle told OneRoof this week she was unable to comment on the listing due to confidentiality clauses but confirmed that only buyers from New Zealand, Singapore and Australia were being considered as the purchase was subject to Overseas Investment Office approval.
“This is one of those very, very rare, once-in-a-lifetime opportunities,” she said.
In her listing, Whittle said the property was “the paradise that time forgot” and was accessible only by boat, helicopter or on foot.
The property, which has a 2022 RV of $1.155 million, is currently owned by former merchant banker David Richwhite and his siblings. Bayleys disclosed earlier this month that they had decided to sell “because extended family is simply not visiting the property enough”.
Inside the simple cottage, which was built in the 1920s. Photo / Supplied
The bach sits on 1.21ha on the Western Bays of Lake Taupō. Photo / Supplied
A spokesperson for the Richwhite family said in statement released by Bayleys that the bach “deserves to be enjoyed and utilised regularly. While it’s absolutely a heart wrench to be selling given the intergenerational memories made there, it’s time for someone else to love it and create their own legacy”.
Whittle had previously said that while council records for the property were somewhat limited, the owners advised that their grandfather and father built the cottage in the 1920s.
In the Bayleys press release on the property, she said there had been strong interest from local buyers and expats.
“I’ve had contact from people who have only glimpsed the property while boating in the area and feel no need to book a viewing for more information,” she said.
“The location is so highly coveted that people seem to have a very emotional association with the property, despite never having set foot on the shores there.”
Bayleys said King Charles III had fished at the property during a royal tour of New Zealand in the 1970s.
- 00 Waihaha, in Tihoi, Taupō, is for sale by way of price by negotiation
