Opportunity Knocking - Paint-Paper-Profit

Sold - Newlands Wellington

Situated on a 579m2 leasehold section, this 1970’s home is superbly located and is elevated for maximum sun and outlook.

There are many possibilities with this property:

Scenario 1 – purchase the house only at buyer enquiry from $225,000 and continue to pay the lease of $9,900 per annum to Manchaster Unity. The next lease review in not until November 2029. The lease is perpetual so no fear of losing the land. There is always the option to purchase the land any date in the future.

Scenario 2 – purchase the land and home now. The land is valued at $505,000 (excluding GST), plus the home buyer enquiry from $225,000.

The house itself offers 3 bedrooms, 1 bathroom, single garage plus off street parking, good size lounge, separate dining area with doors to a North facing deck plus a covered outdoor area at the rear of the property. This home is in need of renovation so if you are not afraid of rolling your sleeves up this could be your next project.

Call us today to arrange a viewing.