Cranleigh Mews "A Special Opportunity"

* Eleven Unit Titles on 2034sqm
* Central City Living Zone allows 14m build height
* Geotechnical and EQC Scope of Works reports available
* Currently mostly occupied but option for vacant possession
* Potential as rental accommodation and land bank or demolish and develop

Located on the desirable West Side of the Central City, this unique parcel of residential land enjoys a picturesque outlook over the greens of Cranmer Square. The property is also perfectly situated close to the emerging CBD and within easy walking distance of both the iconic grounds of Hagley Park and the boutique Victoria Street retail and hospitality precinct.

The apartment complex comprises eleven multi-level apartments configured in a 'U' shape with a paved central courtyard area with mature trees and attractive plantings. The apartments range in size from two to four bedrooms, all of which have private outdoor courtyards and garaging with internal access.

The apartments sustained damage during the Christchurch earthquakes that was deemed 'uneconomic to repair' and, as such, the owners having now settled with their insurers, have instructed Bayleys to sell the land complete with the uninsured buildings in their "As Is, Where Is" state. The apartments remain mostly occupied and the potential to generate a holding income while development plans are established will be extremely appealing to the astute investor/developer. With the rebuild of Christchurch placing pressure on the rental market the property suits itself to potentially remain as rental accommodation and land bank for future development. It would also be ideal for construction companies requiring worker accommodation.

With such an attractive and central location, the various short to medium term scenarios and future possibilities for development are extremely exciting. Buyers with foresight will recognise this offering as something really quite special.