Occupy it. Rent it. Landbank it. Or investigate its future potential. Held under a Glasgow Lease, this unique property offers a different approach to property ownership. Rather than paying the premium associated with purchasing both the land and improvements, buyers have the opportunity to secure the home now with a significantly lower initial investment while paying an annual ground rent. There may be the opportunity to purchase the freehold land in the future, subject to agreement with the landowner.
For first-home buyers, that can mean a more affordable pathway into the property market, with a lower deposit and entry price. For investors, it may mean less capital tied up, allowing you to diversify your portfolio or preserve equity for future opportunities, while annual ground rent payable may also be a tax deductible expense (subject to your individual circumstances and professional tax advice).
Beyond affordability, the location is equally compelling. Positioned directly opposite established commercial activity and just moments from Ashburton's CBD, supermarkets and retail stores, this property occupies a highly strategic position. With dual street access and Residential A (High Density Residential) zoning, the site offers exciting long-term potential. Should the land be freeholded in the future, buyers may wish to explore opportunities for apartments, terrace housing, townhouses or multi-unit developments, subject to council requirements and any necessary consents.
Whether you choose to live in it, rent it, landbank it or investigate its future potential, the possibilities are well worth exploring. If you're a buyer that knows opportunity when you see it, don't let it get away. Call now!
(Information sourced from RPNZ/PropertySmarts and not verified).