Is it time to get to know your neighbours?
By Trudy Weston
One roof recently reported on eight West Auckland neighbours striking the jackpot by combining forces to sell their homes to a property developer for $10 million.
By combining their land, the homeowners, six of them on Henderson Valley Road in Henderson, and two around the corner on Border Road, had an enticing plot of land. Just under 6500sqm with a desirable density zoning that appealed to developers.
The owners got between $1m and more than $1.96m each for their properties. They have council valuations of between $560,000 and $770,000.
It is expected that the houses will be bowled, and an experienced developer could fit more than 40 houses on the site, most likely affordable for first-home buyers and investors.
The deal settles in six to nine months, allowing the buyer to line up consents and plans to start building.
If you are wondering if your property could be part of a deal like this then check your local councils Unitary Plan and see what the zoning in your area allows.
Your local First National real estate agent will be a “local expert” with “local knowledge”. Not only will they know the zoning, they will also be able bring this to market to get the right developers interested in the deal.