So, how much is "Riverbend" worth? Only potential buyers will have an answer to this question. And how do they arrive at their figure? By comparison, that's how!
Here are some past prices to illustrate just what a bargain "Riverbend" is at around $2 million:
In 2011 a small wooden shack plus the adjoining vacant block, both across the lane from "Riverbend" - # 31 & 33 Sproxton Lane - , total land area 3,415 square metres, sold for $1.7 million
A recent sale in February 2012 year (long after the end of the boom!) of a very ordinary house on just 1,771 square metres - # 5 Sproxton Lane - was at $1.2 million.
A more recent sale was # 27 Sproxton Lane which sold in June 2016 for $1,700,500.
Riverbend's large two-storey full-brick house and guest cottage and workshop and library and utility shed would easily command a large premium over the recently achieved sales price of $1.2 million and also $1.7 million, even without the extra seven acres of land.
Riverbend, because of its size, location and substantial improvements, has always been worth more than double the price of any other waterfront property in the lane.
Waterfront properties in the lane have increased in price four- and fivefold (# 33 increased almost eightfold!) since 1993 when Riverbend last changed hands. Riverbend had then been marketed at $500,000. What do you get when you multiply $500,000 by four?
The most recent assessment by a realtor who took into account the latest sales in the neighbourhood came in at $2.15million; however, the owners will consider very carefully any written offer around $2 million.
And they offer substantial Vendor's Finance!
The owners are moving overseas and are willing to sell the property with all its furniture and equipment, far too numerous to list here, which in money terms are worth many, many tens of thousands of dollars.