29 Te Arawa St, Orakei, Auckland City, Auckland

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

29 Te Arawa 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 954m2 section with street frontage with an existing two level 1940s weatherboard 3 bedroom home. It is adjacent to Te Arawa Reserve Park and has a lovely wide, sunny outlook. The current zoning is Res 6a (1/375m2). The property is being sold on a Leasehold basis for 150 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: 11 Ngaio Street, Orakei - http://www.barfoot.co.nz ID # 537823 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.