DEVELOPMENT OPPORTUNITY IN PETONE

House Sold - Petone Lower Hutt City

This once grand home has been in the same family for many years but alas its now time for her to pass to new owners.

It’s likely this home was considered a mansion in it’s day with its 170sqm floor area, large bedrooms, a master bedroom with adjoining nursery, high stud ceilings, native timber features, grand entrance way, sash windows and lead light glass. Other features include; auxiliary room, formal lounge, log burner, gas heating, two bathrooms and large double garage with workshop space.

The value of this location should not be underestimated; just a short walk to the many cafes and restaurants on Jackson St and libraries, schools, Polytechnic and parks are all at your doorstep. Developers with a keen eye will appreciate the potential this site has. The Lower Hutt Councils District Plan was amended last year, Plan Change 43. This could provide for medium density housing on this site; subject to Council approval. It is recommended that all purchasers seek advice from their Lawyer, Surveyor and the Hutt City Council, prior to submitting a tender, to ensure it is fit for their intended use.

With the potential for development of this site it is expected a buyer’s budget would be from $2,000,000; a comparable sale was 38 Britannia which sold mid 2019 for $1,925,000 on a similar sized lot.

For Sale by Tender closing 1pm Wednesday 15th July 2020 at our office 120 Queens Dr, Lower Hutt (will not be sold prior)