98 King Street, Redruth, Timaru

Located at 98 King Street, Redruth, Timaru, this industrial property offers a unique opportunity for light manufacturing with its 310m² floor area and expansive 1733m² freehold land. Built in 1960, the property features concrete walls and an iron roof, both in average condition, making it a sturdy choice for business operations. Despite its industrial designation, the property's spacious land area presents a fantastic chance to develop or expand, catering to a variety of business needs.

Over the past few years, the property has seen a significant increase in capital value, rising from $550,000 in September 2020 to $750,000 in September 2023, marking a 36.36% growth. This growth is supported by a HouGarden AVM estimate of $740,000. Historical sales data reveals a steady increase in value, with sales in 2011 and 2015 at $450,000 and $400,000 respectively, highlighting the property's appreciating value in the market.

The property is situated within the vicinity of several reputable schools, offering a range of educational opportunities. St Joseph's School (Timaru) and Roncalli College, both with a decile rating of 7, provide quality primary and secondary education. Craighead Diocesan School, with a higher decile rating of 9, caters to secondary students, while Timaru South School, with a decile rating of 2, also serves the area. This diverse educational landscape ensures access to quality education for families and employees in the area.

Updated on March 21, 2024.