Is this Auckland property New Zealand’s most valuable nugget of land? – Stuff

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The property in Aucklands Grey Lynn is not much bigger than your average car park.

Everything about this property is tiny, apart from the price it's expected to fetch.

Measuring just 33 square metres, a small packet of land in one of Aucklands most sought-after suburbs is likely to fetch hundreds of thousands of dollars.

Nestled next to Grey Lynns shops and cafes, and a stones throw from one of the citys nightlife hotspots in Ponsonby, the land features a small heritage-protected, brick pump house so any building work needs to keep the protected structure intact.

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Owner Cameron Woodcock bought the property in 2017 for $268,000 with the dream of having a pocket-sized house and shop in the heart of Grey Lynn.

Since then he has spent a considerable sum getting architectural plans drawn up and consents for a three-storey development.

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A 33sqm property in Grey Lynn is up for sale.

Its basically ready to go with all the work weve already put into it, Woodcock said.

But now were moving down to Whanganui, and we just dont have time to devote to this.

So its on the market for a deadline sale, with all offers to be in by July 12.

STUFF

It may be a quiet housing market, but around 50 bids were received for this abandoned, rundown house in a prime parkside position in Remuera. It sold for $1.07 million.

Quite how much it will fetch is debatable. No valuers Stuff spoke to were able to put a price on it, as there are no similar properties to compare it with.

In June last year, Auckland Council assigned it a rateable value of $185,000, even though it had sold for $80,000 more four years earlier.

Theres also a lot of work to go into any future development, with no water or power connections.

Despite that, its expected to fetch hundreds of thousands, given the price it sold for five years ago as the market exploded and now comes with consents for development.

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Renderings of the proposed apartments for the small site on Tuarangi Rd, Grey Lynn.

Plans for the building show a three-storey apartment encapsulating the existing brick shed in a glass foyer.

Valuer Richard Vaughan said it was a chance for someone to get creative, or just go off the existing plans.

[Plans] can add value to a buyer who might not know what to do with a property like this, he said.

Its also a pretty affluent area, so someone might just want a convenient space to park their car.

Ray Whites Josh Powell, one of the real estate agents managing the sale, said it was a place for those looking for something quirky.

It will click with somebody, he said.

Its more for a dreamer and a creative soul who wants to do something not the norm.

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Is this Auckland property New Zealand's most valuable nugget of land? - Stuff