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Property goes for heaps: This Man St cottage sold at auction last week for $3.61 million

By PHILIP CHANDLER

Spirited bidding saw a three-bedroom ‘‘iconic Kiwiana’’ home on the fringe of Queenstown’s CBD sell at auction for an impressive $3.61 million last Wednesday.

The vendor and her late husband had lived at 36 Man Street since it was built in the 1950s.

The two-level, 140 square metre home — fronting Man St at one level — was sold to a Kiwi expat living in Singapore.

The buyer, says local Colliers agent Richie Heap — who marketed the property alongside colleague Alastair Wood — has no immediate plans to develop the 354sqm site, though it has a range of uses, including residential, commercial and visitor accommodation, under its ‘Queenstown Town Centre’ sub-zone.

It’s also bordered on both sides by large, modern residential complexes.

A lot of the bidders, Heap adds, ‘‘were looking to keep the house as it is and just modernise it a bit with some retrofit double glazing and maybe a couple more heat
sources’’.

While the heat’s coming off property elsewhere, he says Queenstown’s ‘‘just a funny little bubble’’.

‘‘We’ve just got key factors like not much on the market, and a lot of people wanting to move here because of lifestyle, which keep us buoyant.’’

scoop@scene.co.nz