Te Anau strong pre-auction interest

A 759 square metre Te Anau lakeside property sold recently for $1.4 million.

Located 300 metres from the town centre, Murray and Jane Coveney sold the three double bedroom property, which features modern open-plan living flowing onto a sunny balcony, a double garage with internal access, plus a separate double boat-garage, via Jim Fortune of PGG Wrightson Real Estate, Te Anau.

Having bought it at auction for $264,000 in 2003, the Coveneys spent approximately $100,000 over the following few years putting in a new kitchen, altering the bathroom, and installing a walk-in shower.

Jim says the property’s marketing campaign quickly drew plenty of motivated purchasers.

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“This is such a beautiful home in a small, picturesque and unique local community. Although we set a date for sale by auction, several of the interested parties were impatient, and we received pre-auction offers. After going into negotiation, Murray and Jane accepted a $1.4 million offer from a family with previous history owning this property prior to them, so it has now come full circle,” he says.

Murray and Jane are pleased with the result.

“When we started out we had a price in mind. While we could have waited for auction day, that is not guaranteed to end up in a sale, and with buyers so keen, and prepared to pay what we wanted, we were able to reach a deal that suited both parties. We are certainly happy with how it went,” says Murray.

Before retiring to Te Anau, the Coveneys formerly farmed at Underwood, near Lorneville, where Murray also worked as a livestock agent at the local meat processing works.

“We were fortunate to buy the property at auction when we did. At the time it felt like a really good deal, and we have been very happy here. Views across the lake and to the mountains are second to none. There is nothing better than sitting in the comfort of my La-Z-Boy, watching the boats and activity on Lake Te Anau,” he says.

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Jim’s campaign to sell the property also receives high praise.

“We took Jim on because we have known him for years. He and PGG Wrightson did an excellent job taking the property to market, giving us sound advice all the way through, dealing with the buyers with great respect and professionalism, and keeping us well informed of all developments and interest.

“I couldn’t fault him. He was excellent. He’d have heard about it if he hadn’t been! I’d give him ten out of ten.”

Murray and Jane are downsizing, and making a move to Invercargill.

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