473 Scenic Drive, Waiatarua, Auckland - Waitakere

Nestled at 473 Scenic Drive, Waiatarua, Auckland, this freehold property is a commercial retail space with immense potential. The 1-bedroom apartment with 10 carparks and a floor area of 299sqm is set on a vast land of 3010sqm. Constructed with mixed materials for the walls and iron for the roof, both in average condition, this property offers breathtaking views of the city and beyond. The government's capital value has seen a significant increase from $1,075,000 in 2017 to $1,325,000 as of June 2021, marking a 23.26% rise. The HouGarden AVM estimates it at $1,230,000, while the latest sales were in 1997 for $280,000 and in 1991 for $175,000.

With a decile rating of 2, the nearby Bruce McLaren Intermediate School, a contributing Oratia School with a decile rating of 9, and Henderson High School catering to Year 9-15 with a decile rating of 3, the property is well within a desirable school zone. This iconic landmark in West Auckland, operating as a restaurant, is a destination in itself, offering views that stretch to the Coromandel on clear days. It's a perfect opportunity to convert into a home or rebuild, capitalizing on the existing 70sqm one-bedroom flat with great rental potential.

Whether you choose to rejuvenate the restaurant or start anew, the 'Elevation' brand is well-established and offers a unique chance to invest or own a piece of Auckland's culinary heritage. This is a rare chance to own a western icon with both residential and commercial options.

Updated on July 16, 2024