3 Grand Terrace Square, Arrowtown, Queenstown Lakes

Nestled on Malaghans Road in the picturesque Arrowtown, Queenstown Lakes, this residential vacant land boasts a generous 3,333 square meters of freehold property. The property, with its easy-to-moderate rise contour, presents an inviting opportunity for potential development. While the specifics of the wall and roof construction remain unknown, the site's potential is undeniable, especially considering its prime location and the growing capital value trends in the area.

As per the latest records, the government has valued the property at $2,600,000 as of September 2021. The HouGarden AVM estimates a slightly lower value at $2,490,000. However, the recent sale history tells a story of growth, with a transaction in February 2024 valuing the property at an impressive $3,550,000. This marks a significant increase in capital value, reflecting the area's desirability and investment potential.

For families with children, the property falls within the catchment area of both the highly-rated Arrowtown School and St Joseph's School in Queenstown, both decile 10 institutions. This ensures access to top-notch education, adding to the property's appeal.

Updated on April 10, 2024