Adjoining Lake Hayes, Marshall Cottage, one of the Whakatipu’s oldest stone buildings — built by farmer William Teal Marshall in about 1865 — sits on a 1.369-hectare terrace sloping down towards the walking track and wetlands.
The eventual buyer, who plans to make it his forever home, had been referred to local premium buyers’ agent, Jo Eddington.
"He specifically wanted, like, on Lake Hayes, on the waterfront, and something quite beautiful and historic."
She showed him Marshall Cottage, which had been listed by Arrowtown-based Luxury Real Estate director Terry Spice, and he signed a conditional contract just before Christmas.
"The buyer was attracted by the history of the property, the rare location and the potential for enhancing improvements," Spice says.
"The property was listed at $5.9million, and the eventual result was very close to that."
During the due diligence period, through the Christmas-New Year holidays, Eddington says she worked with a team of experts, "and it was great because I had Terry helping me".
Those experts included surveyors, planners, architects, heritage specialists, landscapers and builders.
A special challenge was navigating the 13-hour time difference for video calls, Eddington says.
She understands the buyer’s planning a thoughtful interior renovation, enhanced landscaping and completing previously-approved two-bedroom accommodation at the rear of the cottage.
"There’s lots of work being created out of it, because architects have got jobs and landscapers have got significant work."
