5 Kermode Street, Ashburton

$259,000+ buys you a whole lot of opportunity here! Live in it. Rent it. Landbank it. Or look beyond what is here today and investigate what this strategically positioned property could offer in the future. Located close to Ashburton's CBD, supermarkets and retail, this is a central site with dual street access and Residential A zoning. There may be potential for developers and investors to explore apartments, townhouses, terrace housing or multi unit development, subject to council requirements and necessary consents. For buyers simply looking for an affordable property with potential for a lower deposit requirement, the attraction is much more immediate. You can secure the home without having to fund the cost of the underlying land. The property is held under a Glasgow Lease, creating a very different proposition from conventional freehold ownership, but also a significantly lower initial purchase price. That could suit an owner occupier wanting to get into a home at a price becoming increasingly difficult to find. And for the property savvy buyer there is another layer entirely. There may also be an opportunity to purchase the underlying freehold land in the future, subject to negotiation and agreement with the landowner. This is not a conventional property purchase. Purchasers are advised to undertake their own due diligence regarding the Glasgow Lease, ground rent, zoning, development potential, lending requirements and any future purchase of the underlying land. (Information sourced from RPNZ/Property Smarts and not verified).