Resale of $1.5m landmark home ‘as is’
An architectural landmark in Aro Valley, Wellington, is back on the market, just seven months after being sold for $1.51 million – a record price for the area.
The three-storey house, at 3 Epuni St, has been listed on an ‘‘as is’’ basis by Bayleys Wellington.
The listing says it has some ‘‘issues around water tightness that have been identified in reports commissioned by the vendor, who is realistic in their expectations’’.
‘‘This gives you a great opportunity to reap the rewards from remedying the problems and at the same time refurbish/redecorate this truly unique property for your own use.’’
The four-bedroom house, which is vacant, has a Trade Me estimate of $1.14 million, and a 2015 valuation of $870,000.
Bayleys listing agent James Higgie said it is his understanding the owners who bought in March were from out of town and did not move into the house.
‘‘We’re marketing it ‘as is’ basically,’’ he said. ‘‘We are passing on those [water tightness] reports to any potential buyers, and it’s up to them to decide what they might do with it. We don’t know what it might fetch – the unknown is what it will take to take to fix it up.’’
The house came onto the market for the first time in November 2017, when it was listed with Tall Poppy Real Estate.
The owners at that time, who commissioned the design from architect John Mills, said 14 years after it was built, people were still stopping to take photos of it.
One of the owners said it caused plenty of debate when it was built. ‘‘There was a lot of discussion on an architecture website, and one person likened it to a work ‘by Mondrian after a few too many martinis’.’’
One of the new owners said in March that he and his wife bought it precisely because it was ‘‘not like everything else’’.
‘‘It’s unique, and it doesn’t need major renovations like all the others in the street. We like that it’s slightly industrial, and it is both a commercial and residential property. That’s a unique combo in a unique location.’’
The house is for sale by tender, with offers closing on October 24.
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