Listed: Fri, 29 May

Rare Orakei Opportunity

11 Ngaio St, Orakei, Auckland City, Auckland

To be sold by tender (closes on 18 Dec)

5 Beds
1 Bath

Attribute	Value
Property type	House
Parking	2 Car Off Street Parking
Agency reference	537823
Apply Online	http://www.tmsandbox.co.nz/Browse/Jobs/ApplyOnline.aspx?mode=apply_online&referenceId=4142671&sellerId=0

Tender: Closes on Friday 18 December 2015 at 1:30PM (unless sold prior)

11 Ngaio Street - Calling All Owner Occupiers, Investors & Developers THIS COULD BE YOUR CHANCE TO PURCHASE LAND AT A PRICE YOU NEVER THOUGHT WAS POSSIBLE

A rare & unique development opportunity in the tightly held premier suburb of Orakei. This property has plenty of potential and comprises a 827m2 section with street frontage with an existing 1930s weatherboard bungalow and a peep of the Orakei Basin. The current zoning is Res 6a (1/375m2). The property is being sold on a Leasehold basis for 175 years. However unlike other ground leases it is being offered with no annual rental payments or review. In other words all you pay is the initial purchase price, then that's it for the entire term of the lease! This will surely be attractive for owner occupiers and/or developers seeking cost certainty.

Two other properties are also being offered to the market on a similar basis. See: 29 Te Arawa Street, Orakei - http://www.barfoot.co.nz ID # 537829 38 Takitimu Street, Orakei - http://www.barfoot.co.nz ID # 537826

Investigate this real estate proposition with an enticing twist. Do your homework and determine its value and how it may work for you. Long settlement options available.

Open home times

No times scheduled

Local Schools

IN ZONE Orakei School
Grace Street
123 m
Full Primary (Primary & Intermediate), State, 246 enrolled
IN ZONE Baradene College
237 Victoria Avenue
1.4 km
Secondary (Year 7-13) (Intermediate & Secondary), State : Integrated, 1505 enrolled
IN ZONE Selwyn College
Kohimarama Road
2.2 km
Secondary (Year 9-13) (Secondary), State, 1638 enrolled

UNZONED St Joseph's School (Orakei)
16 Brenton Place
709 m
Contributing (Primary), State : Integrated, 35 enrolled
UNZONED Saint Kentigern Girls' School
82 Shore Road
1.1 km
Full Primary (Primary & Intermediate), Private : Fully Registered, 386 enrolled
UNZONED Saint Kentigern Boys' School
82 Shore Road
1.2 km
Full Primary (Primary & Intermediate), Private : Fully Registered, 658 enrolled
OUT OF ZONE Victoria Avenue School
282 Victoria Avenue
1.5 km
Contributing (Primary), State, 406 enrolled
OUT OF ZONE Meadowbank School
Waiatarua Road
1.8 km
Contributing (Primary), State, 808 enrolled
OUT OF ZONE Kohimarama School
112 Kohimarama Road
2.1 km
Full Primary (Primary & Intermediate), State, 486 enrolled
OUT OF ZONE Parnell School
48 St Stephens Avenue
2.4 km
Full Primary (Primary & Intermediate), State, 491 enrolled
OUT OF ZONE St Thomas School (Auckland)
Allum Street
2.5 km
Full Primary (Primary & Intermediate), State, 826 enrolled
UNZONED Acg Parnell College
39 George Street
3.3 km
Composite (Year 1-13) (Primary, Intermediate & Secondary), Private : Fully Registered, 1910 enrolled
UNZONED A1 Student School
10 Kotiri St
3.3 km
Composite (Year 1-13) (Primary, Intermediate & Secondary), Private : Fully Registered, 20 enrolled
UNZONED Crimson Global Academy
Level 3 18 Stanley Street
3.6 km
Secondary (Year 9-13) (Secondary), Private : Fully Registered, 72 enrolled
UNZONED Dilworth School
2 Erin Street
3.8 km
Composite (Year 1-13) (Primary, Intermediate & Secondary), Private : Fully Registered, 482 enrolled
UNZONED Michael Park School
55 Amy Street
3.8 km
Composite (Year 1-13) (Primary, Intermediate & Secondary), State : Integrated, 308 enrolled

While we've done our best to correctly list schools in this location, school zone information may not be exact, so please double check with the school.