39 Queen Street, Waimate, Waimate

Nestled on the bustling Queen Street of Waimate, this freehold property is a gem for investors and owner-occupiers alike. It boasts 3 spacious double bedrooms, a modern apartment upstairs, and two upgraded commercial spaces downstairs, each with its own toilet facilities, one including a kitchenette. The package is completed with a double garage, an additional toilet, and a standalone storage unit. Constructed with double red bricks in the late 1800s, this property exudes timeless charm. The apartment is currently tenanted at $250 per week, while the commercial spaces downstairs are leased at $150 per week plus outgoings, on a 2+2+2 term. The property's $245,000 capital value has seen a 53.125% increase since 2019, reflecting its growing worth. The latest sale was recorded at $176,000 in 2024, after $160,000 in 2017, further indicating its investment potential. The roof and walls, made of iron and brick respectively, are in fair condition. This property is not only a sound investment but also falls within the decile 9 Craighead Diocesan School and decile 7 Roncalli College zones, making it an ideal choice for families.

With a HouGarden AVM of $245,000, this property offers great exposure on the main street with substantial foot and road traffic, perfect for any business venture. The asking price includes the land, building, and outbuildings. This is a Negotiable Over $159,000 + GST opportunity that should not be missed.

For families with school-aged children, the property is within the catchment area of highly-rated schools. Craighead Diocesan School provides education from Year 7 to 15, while Roncalli College caters to students from Year 9 to 15. The school zones add significant value to this already attractive property.

Updated on November 20, 2024