A large pad for sale close to the southwestern shore of Lake Hayes contains one of the Whakatipu’s oldest stone buildings.

Two-storey Marshall Cottage was built by farmer William Teal Marshall in about 1865, just years after the district’s first European settlers arrived following the gold rush.

Marshall, who later left with some of his family for the United States, was an early grain farmer with a large land holding around Lake Hayes.

He’d earlier built a woolshed and stables which are now on an adjacent title.

Marshall Cottage — a protected Category 3 heritage feature under the proposed district plan — now sits on a 1.3690-hectare terrace, surrounded by a mature garden and trees and a large expanse of lawn sloping down towards the Lake Hayes walking track and wetlands.

Its main access is through the Threepwood subdivision.

David Clarke, former director of Arrowtown’s Lakes District Museum, says ‘‘it’s quite unique to have a stone building of that age’’.

‘‘All the early photos, you always see that cottage at the end of the lake — it’s been one sort of constant the whole time.

‘‘It loses the sun a bit early, but it has magnificent morning views, and the fact you see all the activity — people walk ing through the front, rowers on the lake — adds a bit of life to the place.’’

Clarke also refers to the ‘‘amazing bird life’’, including the ‘bird of the century’, the crested grebe.

Picture-perfect: the 1.36ha property, outlined, is enviably located near Lake Hayes

Terry Spice, director of Arrowtown-based Luxury Real Estate, which has listed the property for deadline sale, closing April 4, says ‘‘there are obviously other historic cottages on Lake Hayes, but on much smaller titles and not with as much lake frontage’’ — 166 metres.

He says the 137 square metre cottage is very tidy and has been regularly renovated.

There are two bedrooms downstairs and an ‘‘attic bedroom’’ upstairs.

Spice notes the vendor’s started enacting the first stage of a resource consent for a residential development alongside that’d be sympathetic to the cottage.

A concrete platform with services has been laid down for a four-bay garage and apartments above.

A new owner could adopt next-stage plans for a residence abutting the cottage — or change them.

Spice says they’re looking for buyers with a budget of about $6 million-plus.

He notes premium land with views of Lake Hayes and Lake Whakatipu has ranged in value over the past five years anywhere between $4.25m and $6.5m.

‘‘Then with [Marshall Cottage] you’ve obviously got value in the history and location, and also with that resource consent, that takes a huge amount of time and effort.

‘‘We feel it’s going to go into a generational portfolio for a family that wants to build effectively a sensational estate on one of the most iconic locations, I think, in the Basin.’’

More details are available via rb.gy/riqi7s

[email protected]

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