Nestled in the bustling retail block of Savill Drive, Favona, Auckland, lies a well-maintained, bite-sized retail shop. This 70sqm space, built in 1994 with fibrous cement walls and an iron roof in good condition, is perfect for businesses like takeaway shops, cafes, or laundromats. It boasts a prime location on the main arterial Massey Road, just three minutes from Middlemore Hospital. The property, with a Cross-Lease ownership, includes ample customer parking and is surrounded by popular tenants such as Burger King and a medical center. The capital value has seen a 32.53% increase from $415,000 in 2017 to $550,000 in 2021. The latest sale was recorded at $485,000 in 2024, with a HouGarden AVM of $542,500.
With a rich history of valuation and sales, this property presents a promising investment. The government's capital value assessment has shown a steady growth, reflecting the property's increasing worth. The recent sale history further underscores the potential for capital gains in this vibrant retail location.
For families, the property falls within the decile 1 school zones of both Sutton Park School, a Full Primary, and Otahuhu College, a Secondary school catering to Years 9-15. This provides a valuable advantage for those with educational considerations.
Updated on November 20, 2024
Address | Distance | Bed | Bath | Floor area | Sold date | Sold | Data source | |
|---|---|---|---|---|---|---|---|---|
 | 0.16 km | 1 | 1 | -m2 | Year 2024 Month 11 Day 05 | - | Council approved | |
 | 0.14 km | 3 | 1 | -m2 | Year 2024 Month 11 Day 01 | $835,000 | Council approved | |
 | 0.15 km | 2 | 1 | -m2 | Year 2024 Month 11 Day 01 | $415,500 | Council approved | |
0.19 km | 1 | 1 | 30m2 | Year 2024 Month 10 Day 21 | $305,000 | Council approved | ||
 | 0.41 km | 2 | 1 | 50m2 | Year 2024 Month 09 Day 29 | $500,000 | Council approved |