5 Payne Place, Arrowtown, Queenstown Lakes

Welcome to 5 Payne Place, a serene freehold property nestled in the picturesque cul-de-sac of Arrowtown, Queenstown Lakes. This vacant residential section spans 693sqm, offering an unknown roof and wall construction, but with the promise of a solid foundation for your dream home. The site boasts a level contour, north-facing orientation, ensuring abundant sunlight and stunning mountain views, especially vital during the winter months. With close proximity to highly rated schools, including Arrowtown School and St Joseph's School, both with a decile rating of 10, this property is not just a piece of land but an investment in a premium educational zone.

Since 2017, the capital value has seen an impressive increase of 67.92%, from $530,000 to the current $890,000 as per the government valuation. The HouGarden AVM estimates the property's worth at $815,000, while the latest sale in the area sets the market at $1,225,000, indicating a high potential for further value appreciation. This is a rare opportunity to own one of the few undeveloped sections in Arrowtown, with the added benefit of potential subdivision, making it an attractive prospect for developers and families alike.

Located in a quiet and safe neighborhood, the property is within walking distance to the local school, Arrowtown's main street, and all the amenities this historic town has to offer. It's a chance to build not just a home but a legacy, with the land having been in the same family for 40 years. This unique piece of subdivisible land is up for auction, presenting a golden opportunity to become part of the prestigious Arrowtown community.

Updated on December 04, 2024