At 41 Hallenstein St, on Queenstown Hill’s lower flanks, it looks right down Beetham St for uninterrupted lake and mountain views, but at the same time it’s just a hop, skip and a jump to the CBD.
At 625sqm it’s sandwiched between The Carlin Hotel and Habeke Apartments, and its northern boundary borders Kent St.
The section’s been in the same family’s ownership for about 60 years.
Zoned high-density residential (HDR), it allows visitor accommodation as of right along with residential accommodation.
It’s being marketed by local Harcourts agents Megan Osborne and Amelia Cross with a deadline sale of June 11.
Osborne calls it "a prime development site, and it’s probably the last right in town with natural elevation that will afford everyone a view".
She thinks it would suit penthouses in particular.
"A clever developer will just have views from every level."
The late Kevin Carlin had been eyeing up the site for a potential second stage of The Carlin Hotel.
"Someone else could do a superb stage one of their own thing," Osborne says.
According to a planner’s report, there’s a proposal to relax development standards in the HDR zone so the maximum building height would be 16.5m as against 7m currently — however, given the width of the site, "it is likely that the recession planes would not enable a building to reach a maximum height of 16.5m".
Osborne says the vendors are motivated to sell and meet the market.
As for its likely purchase price, she suggests it’ll be well above its capital value last September of $2.09million.
Speaking of values, the rates demand for the section in 1967/68 was $31.92 compared with its latest rates bill of $4706.80.
