BOUNDLESS POTENTIAL
Enormous opportunity exists to use 28 and 30 Chaucer Street, Cambridge, as a way to build wealth. Offered to the market for the first time in donkey’s years, these neighbouring properties are an exciting proposition bound to pique the interest of home-owners, renovators, land-bankers, or developers.
Buyer confidence is heightened by the fact they lie in the heart of sought-after Leamington on the south bank of the Waikato River in a town that has been earmarked as a priority growth area of the Waikato region.
Collectively, the properties offer six bedrooms, two bathrooms and four living areas and when paired together, countless possibilities exist for development, renovation, or investment, says Bayleys real estate agent Melissa Langsford. “This is an unparalleled chance to secure prime real estate in Cambridge.”
The properties will be auctioned on May 14, and if they fail to go under the hammer together, they will be offered separately.
Leamington needs little introduction. Formed as an independent township in 1907, it amalgamated with Cambridge in 1958. The amenity-rich suburb has lovely natural aspects, and proximity to the CBD, Waikako River and sports facilities that make the town internationally renowned.
Demand for more compact homes is on the rise, particularly in areas with rapid population growth. Medium density housing projects maximise the potential of a section and when two adjoining sections come to market at the same time, as in this case, development opportunities rocket.
28 Chaucer Street
Encompassing an extensive 1838sqm of land, with views over Kingsley and Addison Streets to the river from the kitchen, dining and living areas, a scenic location can significantly increase a property’s value.
At a decent 171sqm, the home’s character and potential augur well for a home owner or renovator. Four spacious bedrooms and a central bathroom make the home family-friendly, and exposed timber floors provide natural beauty. Although caught in a time-warp, the 1950s build and layout serve as a great canvas for renovation and expansion.
The sky’s the limit when it comes to envisaging what could be achieved in terms of rejuvenation, expansion, and repurposing. A big asset is the large shed offering the obvious benefits of a workshop, studio, or storage space.
30 Chaucer Street
Built in 1988, this home has timeless appeal and investment potential. Its sturdy brick construction, well-proportioned layout, and low-maintenance aspects are attractive qualities. The 130sqm floor area embraces two spacious bedrooms, a central bathroom, open-plan living, sundrenched conservatory and single internal-access garage. If the generous 600sqm section was joined with number 28, the entire land area of around 2438sqm gives a developer plenty to work with.