17 Ngarimu Road, Panmure, Auckland

Nestled in the serene cul-de-sac of Ngarimu Road, this vacant land of 827m2 holds a freehold title and is primed for development. The property, with a floor area of 106m2, is complemented by brick walls and a well-maintained tile roof from the 1950s. It offers 3 bedrooms, 2 carparks, and is zoned for a variety of residential options, including terrace townhouses and apartments. The capital value has seen a remarkable increase of 90.68% from $1,180,000 in 2017 to $2,250,000 as of June 2021. The HouGarden AVM estimates the property's worth at $2,190,000, while the latest sale in 1992 was for $106,500. This corner site is not only an investor's opportunity but also a developer's goldmine.

From a valuation perspective, the property's CV growth is a testament to its potential. The recent surge in capital value is a promising indicator for future returns. Moreover, the site's convenience to wastewater and stormwater access further enhances its development prospects. This address, located between east and central Auckland with easy motorway access, is a tranquil retreat with proximity to the estuary and Panmure Basin's fitness trail, while shopping and entertainment hubs at Sylvia Park and Lunn Ave are a short drive away.

For families with school-aged children, the property falls within the zones of Baradene College (decile 9) and Tamaki College (decile 1), as well as Panmure Bridge School (decile 1), offering a range of educational options. This estate, ready for a new lease on life, invites architects and planners to transform it into a thriving residential complex or a cozy family haven.

Updated on July 25, 2024