24 Tenby Street, Wanaka, Queenstown Lakes

Nestled in the tranquility of a quiet cul-de-sac at 24 Tenby Street, Wanaka, Queenstown Lakes, stands a remarkable commercial accommodation property on a generous 1,075m2 of freehold land. This well-established lodge, built in 1998 with roughcast walls and iron roofing, both in good condition, boasts twelve ensuite rooms, two lounges, a manager's office, and ample parking for eight cars. The property, with a floor area of 590m2, has seen a significant Capital Value (CV) increase of 33.33% from $2,310,000 in July 2017 to $3,080,000 as of September 2021. The latest sale history records a transaction of $2,830,000 in June 2024, and an earlier one at $1,800,000 in May 2010. The HouGarden AVM estimates the property's value at $3,002,500. Educationally, the property falls within the zone of Te Kura O Take Karara, a contributing school with a decile rating of 10.

With a prime location and a CV on the rise, this property presents a golden opportunity to invest in a successful business, potentially combined with the adjacent 1061m2 plot, currently used as a garden, enhancing the tranquility and privacy of the setting, just moments away from the town centre and the scenic Lake Wanaka.

For families, the school network is a significant plus, with Te Kura O Take Karara offering a high-quality education in a supportive environment, reflecting the area's commitment to excellence.

Updated on August 07, 2024