Opportunities like this are becoming increasingly hard to find. Set on an impressive 8,245sqm site in a well-established residential neighbourhood, this is a property that offers more than just a place to call home, it presents an exciting opportunity to secure substantial land, 2 existing dwellings and the potential to explore what the future could hold.

Zoned Urban Residential 3, the possibilities here are certainly worth investigating. Whether you're looking for a long-term investment, a property with development potential, or simply the opportunity to landbank in a growing residential area, this is a proposition with plenty to get excited about.

Two homes, two income streams.

The original 1960s home offers comfortable, well-proportioned living, featuring 3 bedrooms, a family bathroom and ensuite, plus generous living, dining and kitchen spaces. Practicality is well catered for with excellent off-street parking, 2 carports and a detached garage with additional workshop space.

Privately positioned on the property, the second dwelling is a tidy, warm and comfortable 2-bedroom cottage, providing an additional rental opportunity and adding further value to an already compelling investment.

Both homes are currently tenanted, offering the opportunity to generate rental income from day one while you consider your longer-term plans.

Hold, landbank or explore the possibilities.

Surrounded by established, quality homes, the generous landholding creates an opportunity to investigate future development or subdivision, subject to the necessary council approvals, resource consent and servicing requirements. You could retain both dwellings and enjoy the rental returns, make improvements over time, or explore the potential to unlock more value from the substantial site.

Properties offering this combination of land size, existing income and future possibilities are a rare find.

The choice is yours, secure the income, hold the land, or investigate the potential. The opportunity is here, and the next move is up to you.

Tender closes 12.00pm, Tuesday 10th November 2026, at Summit, 56 High Street, Picton. (will not be sold prior).

For the information pack, please follow the link below to our Summit website and fill in the details to request the information pack - https://summit.co.nz/buy/listings/18260