95 Main Road, Pleasant Point, Timaru

Nestled on a spacious 2061 sqm section at 95 Main Road, Pleasant Point, Timaru, this iconic rural hotel boasts a freehold title. Constructed with durable brick walls and an iron roof, the property presents an average condition both externally and under the roof. It offers a generous floor area of 380 sqm, with a single carpark, and a range of amenities including a bottle store, bar, restaurant, and guest accommodations. The property has shown a consistent net income average over the past 6 years, with a notable turnover from its various entertainment facilities.

As per the latest government valuation, the capital value stands at $590,000, reflecting a 15.7% decrease from the previous valuation of $700,000. However, the HouGarden AVM estimates a higher value of $670,000. The property's recent sale history includes a transaction in 2024 for $525,000 and another in 2014 for $615,000. Despite the fluctuation, the property remains a solid investment opportunity.

For families, the property falls within the catchment area of several reputable schools. These include Pleasant Point Primary School, a full primary with a decile rating of 8, St Joseph's School (Temuka) with a decile rating of 6, Opihi College for years 9-15 with a decile rating of 5, Craighead Diocesan School with a decile rating of 9, and Roncalli College with a decile rating of 7. This makes it an ideal choice for those considering a property in a prime school zone.

Updated on April 11, 2024