171 Harewood Road, Papanui, Christchurch

Nestled at 171 Harewood Road, Papanui, Christchurch, this freehold property is a gem in the commercial sector, currently housing the Harewood Medical Centre. Constructed in 1960 with wooden walls and tiled roof in average condition, the property sits on a vast land area of 1884 sqm. It boasts a floor area of 160 sqm and 14 carparks, making it an attractive proposition for investors. The capital value has seen a significant increase of 56.7% over three years, from $670,000 in 2019 to $1,050,000 as of 2022. The latest sale was recorded at $1,170,000 in 2021, with the HouGarden AVM estimating the property's worth at $1,057,500.

For families, the property falls within the catchment of several high-performing schools, including St Patrick's School (Bryndwr) with a decile rating of 10, Waimairi School at 9, and Villa Maria College at 9. The area is zoned for both residential and suburban use, providing a quiet and convenient lifestyle with easy access to amenities and major routes.

With potential for future redevelopment and a consistent rental income, this property presents a rare opportunity for developers and investors alike.

Updated on September 26, 2024