196 Hills Road, Edgeware, Christchurch

Located at 196 Hills Road, Edgeware, Christchurch, this property presents a unique development opportunity. With a land area of 984sqm and a floor area of 110sqm, the freehold title property is currently zoned for Commercial - Small health operations. The building, constructed in 1910, features wood wall construction and an iron roof, both in average condition. It offers 2 carparks, catering to the needs of a small health facility. The property is situated in a prime location, close to retail amenities and along a main arterial road, making it highly accessible.

The property has seen a significant increase in capital value, from $500,000 in August 2019 to $820,000 in August 2022, marking a 64% growth. The latest sale in May 2023 was at $725,000, up from $515,000 in February 2016. The HouGarden AVM estimates the property's value at $810,000, indicating its potential for future residential development or as a source of holding income through leasing.

The property is well-positioned within several school zones, including Middleton Grange School (decile 9), Hillview Christian School (decile 7), Shirley School (decile 3), Shirley Intermediate (decile 4), Christchurch Adventist School (decile 5), Mairehau High School (decile 4), Hagley Community College (decile 6), and Marian College (decile 8). This wide range of educational options makes it an attractive location for families and investors alike.