Auction (unless sold prior)

2pm, Thu 24 Aug 2023

3 Deans Avenue, Christchurch

Valuable land, a prime location and untapped potential converge as the major drawcards of this 1940s freehold property, currently utilised as a block of four flats in central Merivale.

Presented to the market on an 'as is, where is' basis, this 637sqm site opens up a world of possibilities, with the most likely path being the construction of a new, superior-quality residence that will complement the standard set within this esteemed area.

Furthermore, investors may consider upgrading the home and adding it to their portfolio, taking advantage of the property's ability to maintain its value in this sought-after location. Alternatively, it presents an enticing landbank opportunity, providing time to carefully plan and decide on the most optimal use of the site.

Currently, the 260sqm home is dated and tired, consisting of a two-bedroom ground-floor flat with one bathroom and a spacious living area that opens to a front garden. The rest of the layout includes three one-bedroom, one-bathroom flats with kitchens and living areas. Two of these flats are located on the top floor, and a carport occupies the rear of the section.

This residence enjoys an enviable location just steps from Merivale Village, offering an array of boutiques, cafes, eateries and everyday amenities. In terms of education, you can expect nothing short of excellence, falling within the sought-after zones of Elmwood School, Heaton Intermediate, and Christchurch Boys' and Girls' High Schools. Additionally, premier private schools are also conveniently located nearby.

This captivating property is ready to be claimed with vacant possession and is a true rarity, marking its debut on the market after 25 years. Its bright future and boundless potential will spark intense interest among buyers seeking a unique opportunity in this coveted neighbourhood.

Property file: http://www.propertyfiles.co.nz/5521631