29 Speight Road, Kohimarama, Auckland

Nestled on a level plot at 29 Speight Road, Kohimarama, Auckland, this residential vacant land boasts a freehold title, offering a unique opportunity for development. With unknown specifics regarding the roof and wall construction, this property presents a clean slate for potential buyers. The land, spanning 891 square meters, is a mere 150 meters from the picturesque Kohimarama Beach, with a walkway opposite providing direct access to the shore. It's been over 35 years since the property last changed hands, making this an unprecedented chance to grab a prime piece of real estate in a sought-after location.

Since the last sale in 1984, the capital value has seen an impressive increase of 35.38%, from $3,250,000 to the current government valuation of $4,400,000. The HouGarden AVM estimates the property's worth at $4,095,000, while the latest recorded sale price was a mere $39,000, reflecting the property's untapped potential. This is a golden opportunity for investors and developers looking to capitalize on a rapidly appreciating market.

For families with school-aged children, the property falls within the zones of highly esteemed institutions. Baradene College and Selwyn College, both secondary schools, are rated at a decile of 9 and 4 respectively. Kohimarama School, a full primary, and St Ignatius School in St Heliers, a contributing primary, both hold a perfect decile score of 10. This addresses not only the property's potential for growth but also the quality of education available in the area.

Updated on June 20, 2024