Canterbury tennis club sells for $1. 3 million

229A King St in Rangiora sold for $1. 3 million from a developer on Thursday. Photo / Supplied

An adult plot of land occupied by a Canterbury swiftly club has sold for $1. a couple of million at auction.

The 5651sqm site, which has been throughout hands of Rangiora Tennis participation since 1930, was snapped up by way of developer for almost $1 million above their 2019 rating value of $385, thousand.

Positioned in the heart involving Rangiora, the site is zoned when considering residential development.

Yates told OneRoof that the property is now potentially the last large piece of developable land near Rangiora town core.

“Essentially, you’re paying over bare land, which is an attractive offer for a Rangiora development, ” he said.

The tennis court has become occupied by a local tennis soccer team for 90 years and it comes with a driver house. Photo / Supplied.

Yates understood Rangiora Tennis club was very happy with the result and would be using the cash in hand to secure a new site.

Zoning rules would allow the new professional to put up to 15 homes or else terrace houses on the site at 229A King Street.

From the OneRoof-Valocity house price index, house values in Rangiora have increased 10 percent in the last 12 months, with the average house value sitting at $495, 000.

Yates explained that Rangiora was becoming very popular that have buyers, especially those from Auckland as well Tauranga, and development land combined with lifestyle blocks were selling “through the roof”.

“With the new motorway and being indeed close to the airport, it’s all buzzing here. ”

“Those people who relocate from the North Tropical island find it so affordable. They can make investments 10 acres and a beautiful full-size home here, ” he described.