28 Farnborough Street, Aranui, Christchurch

Introducing a prime opportunity at 28 Farnborough Street, Aranui, Christchurch, this residential vacant land offers a blank canvas for those looking to build their dream home or invest in a future project. The property spans 450 square meters with a freehold title, ensuring complete ownership. Despite the unknown specifics regarding the wall and roof construction, its level contour presents an easy foundation for development. Situated beside the Farnborough Reserve, the section is not only in a serene location but also benefits from being in close proximity to local attractions such as the Rawhiti and Avondale Golf Courses, New Brighton Beach, and He Puna Taimoana Hot Pools, with a shopping mall nearby for convenience.

Over the years, the capital value of this property has seen a significant increase, from $25,000 in August 2019 to $120,000 in August 2022, marking a 3.8 times growth. The latest sale records show a transaction at $150,000 in February 2024, following a previous sale at $120,000 in September 2022. The HouGarden AVM estimates the property's value at $112,500, highlighting its investment potential and the urgency for interested buyers to act swiftly.

The property falls within the zones of several reputable schools, including Middleton Grange School (decile 9), Hillview Christian School (decile 7), Haeata Community College (decile 1), Christchurch Adventist School (decile 5), Hagley Community College (decile 6), and Marian College (decile 8). These educational institutions range from composite to secondary levels, offering a variety of options for families considering this location.

Updated on April 05, 2024.