I may be wrong but I am sure this is a christchurch boat. Earlier this year(January I think) when the storms came in it broke off its mooring and got washed up - I think it took quite a beating. I have looked at it a number of times when passing and it has never seemed particularly loved. I ve never ever seen it running though.
However, it could make a brilliant project if cheap enough. Probably easier to put another engine in that repaire the existing one. There is nothing like the sound of a V8