The former Tuarangi Home property, on the outskirts of Ashburton, has sold to a local family at auction for $1.35m.
Bayleys lead agent Mick Hydes said the property had garnered plenty of interest with around 25 parties showing interest in the lead up to the live auction on September 23.
It was held at the Bayleys office on Deans Avenue, in Christchurch.
Six parties were interested in the 4.125 hectare property on the day but while “most of them sat on their hands” an opening bid was made which got the ball rolling.
Finally after some backroom negotiation – and a last minute bidder – the property was sold.
“Everyone is very happy with the result,” Mr Hydes said.
“The vendor, purchaser and the community should be too. (Plans) will come out but just not right now,” he said.
“There are plans afoot.”
The site, which is freehold land with residential C zoning, is adjacent to the established Braebrook residential subdivision.
It has a substantial brick building of about 2590sqm which was constructed around 1901.
In its heyday, Tuarangi (named from the Maori word for old) was the former home to thousands of men and women.
The building was used as a men’s home (or infirmary) and then as a rest-home facility before it closed and moved to Cameron Street to a modern hospital with a specialised psychogeriatric care facility for the elderly.
It was also owned by the Moule/Twigger Trust, the North Canterbury Hospital Board and the Canterbury Hospital Board.
A time capsule removed from the site had been given to the Ashburton Museum.
The site has many outhouses and fronts Tuarangi Road, widening to the back of the property and along the northern edge of Braebrook subdivision.
Wakanui Stream, more commonly known as Mill Stream, runs through the site.