172 Fitzgerald Avenue, Christchurch Central, Christchurch

Nestled on a serene cul-de-sac at 172 Fitzgerald Avenue, Christchurch Central, this residential ownership home unit boasts a capital value that has seen a rapid increase of 41.46%. Built in 2012 with solid concrete walls and an iron roof, both in good condition, the property offers 2 bedrooms, 1 bathroom, and a single carpark. The 92sqm floor area is set on a level 134sqm freehold land. The latest sale was recorded at $475,000, a significant jump from the previous sale in 2012 at $271,522. The HouGarden AVM estimates the property's worth at $562,500, while the government valuation as of August 2022 stands at $580,000, up from $410,000 in August 2019.

For families, the property falls within the catchment of several reputable schools. Middleton Grange School, a composite school with a decile rating of 9, is one of the many highlights. Other schools in the area include Hillview Christian School (decile 7), Christchurch Adventist School (decile 5), and Christchurch East School (decile 3), among others. This property is not just a home but a promising investment opportunity in a sought-after school zone.

With a prime location on the city edge, bordering quality townhouses and with a view of the Avon River, this property is perfect for a developer looking for a project with full resource consent and design plans ready to go. The potential to develop eight townhouses, with a mix of two to three-storey units and one standalone townhouse at the rear, makes it a golden opportunity waiting to be seized.

Updated on August 14, 2024