An historic one-bedroom, one-bathroom Arrowtown cottage - purchased about 70 years ago for £350 - sold this week for $1.85 million.
The property at 53 Buckingham St sold at a Bayleys Arrowtown auction on Tuesday, with bidding opening at $1.35m, attracting 20 bids.
Immediately beside Arrowtown's The Fork and Tap, the house sits on 286 square metres within the town's historic zone.
Sales agent Nick Newman, who marketed the property with his father Richard Newman, said there was a "massive" amount of interest from local and out-of-town purchasers, with the majority planning on using it for commercial purposes, as a holiday home or a private residence.