– A derelict riverside cottage in Waikino is back on the market after being sold five years ago.
– Peter McGregor bought and partially renovated the property for nostalgic reasons but never completed the project.
– The property, with an RV of $475,000, has attracted interest from builders and investors.
A derelict riverside cottage sold by the district council five years ago to cover unpaid rates is back on market for sale again.
Retired painter Peter McGregor told OneRoof he bought the two-bedroom property at 11 Waitawheta Road, in Waikino, Hauraki, for nostalgic reasons.
He once lived next door and got to know the owner of 11 Waitawheta Road quite well because he would feed McGregor’s cat when he went away for work. “I wasn’t a drinker, but every Friday I would go round to get me cat. I would end up coming home plastered because he would go, ‘Just have a drink, just have another one’.”
There is no kitchen and some ceilings and walls are missing from the 1910s cottage. Photo / Supplied
McGregor had sold up next door years ago, but when he saw Hauraki District Council was selling his old neighbour’s home in 2020, it stirred up some fond memories, and he made an offer.
He told OneRoof he had renovated dozens of old villas and cottages over the years – including about eight in nearby Waihī – and saw potential in the old house.
The property backs onto the Hauraki Rail Trail and Ohinemuri River, and is just a short stroll over the walking bridge to the Waikino Tavern.
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“I wanted to save it because a lot of people were saying that it would just get bowled,” he said.
The first thing he did once he took ownership was fix the leaking roof and repair the gutters. He also had to clear the inside and outside of the house because it was full of junk. “The guy who was living there didn’t take anything.”
McGregor has a shed full of building materials, including leadlight windows and kauri floorboards, which he planned to use in the renovation, but never got around to completing his project.
“It’s pretty bad,” he said. “There’s no plumbing, no kitchen, no ceilings in the rooms, no doors – it’s pretty rough.”
The property sits on a 4047sqm section overlooking the Hauraki River Trail and the Ohinemuri River. Photo / Supplied
McGregor used to make his money buying and renovating homes, but now that he’s in his 60s, he wants to do something else. “I love the house, but I’m just a hoarder really. I collected that house.”
McGregor said the cottage had good bones and he would love to see someone restore it to its former glory.
Raine & Horne agent Richard Jordan said there were few properties like 11 Waitawheta Road on the Hauraki cycle trail. “It’s a fantastic property and has huge potential.”
He has been fielding strong interest from builders and investors who were looking at it as either a renovation or a development project.
The property has an RV of $475,000, but Jordan said feedback from buyers had been “somewhere in the $400,000s”.
“That would be a fair buy for roughly an acre of land in that location.”
Jordan said Waikino was attracting interest from buyers looking for a more affordable option than nearby Waihi Beach.
– 11 Waitawhata Road, in Waikino, Hauraki, is for sale by negotiation