Is this Auckland property New Zealand's most valuable nugget of land? & More News Here

Everything about this property is tiny, aside from the value it is anticipated to fetch.

Measuring simply 33 sq. metres, a small packet of land in a single of Auckland’s most sought-after suburbs is more likely to fetch a whole bunch of hundreds of {dollars}.

Nestled subsequent to Grey Lynn’s outlets and cafes, and a stone’s throw from one of the town’s nightlife hotspots in Ponsonby, the land incorporates a small heritage-protected, brick pump home – so any constructing work must maintain the protected construction intact.

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Owner Cameron Woodcock purchased the property in 2017 for $268,000 with the “dream of having a pocket-sized house and shop in the heart of Grey Lynn”.

Since then he has spent a “considerable sum” getting architectural plans drawn up and consents for a three-storey improvement.

“It’s basically ready to go with all the work we’ve already put into it,” Woodcock stated.

“But now we’re moving down to Whanganui, and we just don’t have time to devote to this.”

So it’s available on the market for a deadline sale, with all presents to be in by July 12.

Quite how a lot it’ll fetch is debatable. No valuers Stuff spoke to have been in a position to put a worth on it, as there are not any related properties to check it with.

In June final 12 months, Auckland Council assigned it a rateable worth of $185,000, despite the fact that it had bought for $80,000 extra 4 years earlier.

There’s additionally loads of work to enter any future improvement, with no water or energy connections.

Despite that, it’s anticipated to fetch a whole bunch of hundreds, given the value it bought for 5 years in the past – because the market exploded – and now comes with consents for improvement.

Plans for the constructing present a three-storey condo encapsulating the present brick shed in a glass lobby.

Valuer Richard Vaughan stated it was an opportunity for somebody to get artistic, or simply go off the present plans.

“[Plans] can add value to a buyer who might not know what to do with a property like this,” he stated.

“It’s also a pretty affluent area, so someone might just want a convenient space to park their car.”

Ray White’s Josh Powell, one of the true property brokers managing the sale, stated it was a spot for these searching for one thing “quirky”.

“It will click with somebody,” he stated.

“It’s more for a dreamer and a creative soul who wants to do something not the norm.”

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