Nestled at 171 Harewood Road, Papanui, Christchurch, this freehold property is a gem in the commercial sector, currently housing the Harewood Medical Centre. Constructed in 1960 with wooden walls and tiled roof in average condition, the property sits on a vast land area of 1884 sqm. It boasts a floor area of 160 sqm and 14 carparks, making it an attractive proposition for investors. The capital value has seen a significant increase of 56.7% over three years, from $670,000 in 2019 to $1,050,000 as of 2022. The latest sale was recorded at $1,170,000 in 2021, with the HouGarden AVM estimating the property's worth at $1,057,500.
For families, the property falls within the catchment of several high-performing schools, including St Patrick's School (Bryndwr) with a decile rating of 10, Waimairi School at 9, and Villa Maria College at 9. The area is zoned for both residential and suburban use, providing a quiet and convenient lifestyle with easy access to amenities and major routes.
With potential for future redevelopment and a consistent rental income, this property presents a rare opportunity for developers and investors alike.
Updated on September 26, 2024
Wāhi Tiriti | Tawhiti | Tau Rūma Moe | Tau Rūma Horoi | Rohe Whare | Wā Hokona | Utu Hokona | Pūtake Raraunga | |
|---|---|---|---|---|---|---|---|---|
 | 0.07 km | 4 | 2 | -m2 | 2025 02 26 | - | Council approved | |
 | 0.11 km | 2 | 1 | 70m2 | 2025 02 03 | $440,000 | Council approved | |
 | 0.19 km | 3 | 1 | -m2 | 2024 11 12 | $552,500 | Council approved | |
0.13 km | 2 | 1 | 94m2 | 2024 10 07 | $279,000 | Council approved | ||
 | 0.14 km | 4 | 2 | 157m2 | 2024 09 12 | - | Council approved |