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It is one of the handiest residential properties to Queenstown’s CBD in one of the resort’s most established addresses.
Up for auction on July 17 is a recently-renovated residence at 3 Brisbane St — an older three-bedroom, one-bathroom home with a capital value of $2,330,000, of which $2 million is land value.
The property, being marketed by local Bayleys agents Mark Martin and Semanie Cato, is currently let out at $1200 per week, though it could also be rented out nightly.
Martin says the buyer "could be someone who just wants a little lock-and-leave holiday home".
He points out the property is zoned high-density residential A, and under a district plan change has potential for increased height and density.
However, as it is just 492sq m, "it does restrict it somewhat".
Ultimately, he says, "it’s probably an entry-level opportunity in those tightly-held streets".
The July 17 auction is being held at Frankton’s Bayleys House at 11am.
Meanwhile, Mountain Scene last revealed revealed 4 Park St, which is just two doors away, is being marketed for sale by Ray White Queenstown — it is currently home to longtime community support centre, Happiness House.
