242r Lake Terrace Road, Shirley, Christchurch

Nestled in the tranquility of a quiet cul-de-sac at 242r Lake Terrace Road, Shirley, Christchurch, this vacant property boasts a generous land area of 450 square meters under the freehold title. While the specifics of the building's exterior and roof construction remain unknown, the potential for development is immense. The property is without a residential structure, indicating a clean slate for the imaginative builder or investor. With a single bathroom and no car parks currently in place, this property is a blank canvas waiting to be transformed.

History shows a significant leap in the capital value, from $40,000 in August 2019 to the current $86,000 as of August 2022, marking a growth rate of 115%. The HouGarden AVM estimates the property's worth at $82,500, closely aligning with the government's valuation. The latest sale record, from July 4, 2024, sets the transaction price at $242,000, indicating a robust market interest in the area.

For families with educational considerations, this property falls within a highly regarded school zone. Notable institutions include Middleton Grange School, a composite school with a decile rating of 9, Emmanuel Christian School, a composite school (Year 1-10) with a decile rating of 8, and Marian College, a secondary school (Year 9-15) with a decile rating of 8. The variety of schools caters to diverse educational needs and age groups.

Updated on August 28, 2024