Chch buyers take $1m gamble on historic quake-damaged homestead

Woodstock House is believed to be the oldest surviving example of an architect-designed cob house in New Zealand. Photo: Supplied

A historic South Island homestead has been snapped up by a Christchurch couple known for fixing up "as is, where is" quake-damaged properties.

YOU.Realty agent Nicky Ryan told

OneRoof reported Nikki Preston

the sale of Woodstock House in Nelson was a "relief" for the vendors.

They bought the 175-year-old property – thought to be Nelson’s oldest homestead – for $860,000 and planned to turn it into a wedding venue.

But six weeks after they took the house over in 2016, the Kaikōura earthquake struck and caused significant damage.

Despite being in "as is, where is" condition, the home on Covent Drive, Stoke, still attracted serious interest from lovers of character homes but the careful repair work required narrowed the field of buyers, OneRoof reported.

"There were a number of people who genuinely wanted to buy it – they were just trying to get their heads around the risk," Ryan told OneRoof.

"It’s fair to say I’ve got a huge database of buyers looking for heritage or character homes in Nelson at the moment – just not ‘as is’.

Ryan did not disclose the exact sale price to OneRoof but said it went for near the asking price of $1.075m.

She said the new owners have repaired several quake-damaged buildings in Christchurch.

“They had appointments with various types of people from engineers to builders,” she told OneRoof.

Ryan said the sale had been an emotional one for the vendors.

“I think there is a real relief that that chapter is over and they can now move on,” she told OneRoof.

“Their plans changed completely within weeks of getting there.

"For them, I think they are happy it’s over, they are happy it’s sold and they are happy that I guess it’s a family perhaps wanting to live there and hopefully they will get to enjoy what my owners never got to.”

Woodstock House has undergone several extensions over the years and includes a mix of native timbers. Photo: Supplied

OneRoof reported the vendors had worked to bring the five-bedroom home up to scratch, repairing the piles and removing 10 tonnes of bricks from the ceiling.

OneRoof previously reported the property is well known in Nelson.

It was built in 1854 for Nelson settler, Captain W.R. Nicholson, and is the oldest surviving example of an architect-designed cob house in New Zealand.

Ryan told OneRoof last month: "It’s one of a kind – a beautiful, beautiful property of significance in that it’s the oldest or believed to be the oldest of its kind in New Zealand. It’s a big deal".

The home had an RV of $1.6m and was built on a 10ha section in the 1850s, OneRoof reported. The land was subdivided and now covers 2122sq m next to Ernest Rutherford Retirement Village.