Land, Land, Beautiful Land

It is one of the asset classes that is referred to when the discussion is around protecting ones wealth.
This 1722 sq. meter section up a 6 meter wide drive at the top of a cul-de-sac street possesses other prime features inherent in real estate growth; location, location and a panoramic water view.
Pillans Point, Otumoetai is one of the inner-most established suburbs of Tauranga; New Zealand's fastest growing central North Island East Coast City in a region aptly named the Bay of Plenty.
Sloping gently toward the northern sun, the vista is the more sought after in the city.
The single level living approx. 177sq. meter*, five bedroom home with double basement garage stands straight and true sixty years on from its build, thanks to the generous use of heart native timbers. Along the northern sunny front of the home the living rooms open onto a 28 sq. metre terrace.
With the improvement value at only 18% of the capital value (GV) the prime site is currently under capitalized. A renovation or redevelopment is beckoning. Meanwhile the home is comfortably habitable.
By day the forever changing vista from here is as diverse as the range of vessels between a P Class sailing dinghy and luxury passenger liner.
As the flashing, flickering, blinking, green, red and white guiding lights of the harbour channel markers introduces dusk another enchanting night view acquaints itself with the home.
From here the popular Pillans Point primary school is a 5 minute walk away. High schools are within an easy biking distance, the employment hub of the CBD is within a 3.5km radius and the white sand surf beaches of Mount Maunganui are just 7.5km (8 minutes) across the harbour.
In all ways a solid foundation upon which to improve.

PROPERTY INFORMATION MEMORANDUM

Legal Description: Lot 14 DPS 753
Capital Valuation: $785,000
Land Value: $640,000
Rates: $4,554.31*
Exterior Construction: Rimu or Tawa weatherboard*
Roof: Decramastic
Joinery: Rimu*
Foundations: Concrete piles & footings*
Insulation: Ceiling**
Floor Area: 177.6 sq. metres*(approx.)
Age: 1950's with 1960's additions*
Aspect: Northerly
Section Area: 1722 sq. metres
Bedrooms: Five
Layout: See floor plans
Heating: Wood burner
Water Heating: Electric
Garaging: Double
Chattels: Blinds, Dishwasher, Drapes, Fixed floor coverings, garden Shed, light fittings, Electric Stove, Range hood, refrigerator, Security system, TV aerials, Washing machine taps, Auto garage door opener & remote.
(Not staying: shelf in dining area)
*Information from council property file or web site.
**Information from Build Inspection Report.