Block 1 & 3 /42 Raiha Street

Price Guide: Buy
Car Spaces:

This is a unique opportunity to buy 7 and/or 4 sections in Stage 1 of 2 of a 25 lot development with consented plans that have been presold as turn key section and build packages with 10% deposit lodged with the Vendor’s solicitor. Sunset Clause in Turn key contracts expires in 28th March 2025.

The sections comprise of Block 1 (7 sections at $2,100,000) &/or Block 3 & 3A (4 sections at $1,200,000), a total of 11 underlying sections ($3,300,000).

Pay deposit on Issue titles approx. Aug 2023.

Build Consents have been issued, they just need to be uplifted and paid for by purchaser:
Block 1 - $34,000 (9 to 11 month Build)
Block 3 & 3A - $15,000 (4 to 6 month Build)

Porirua City Council have approved both Blocks can start building pre- title, thus no funding required for the land cost until the title is issued.

Block 1 can start build immediately and Block 3 & 3A at the end of May. The Blocks must adhere to the specifications noted in the executed Sale & Purchase Agreements.

The figures are as follows:
With an assumption of approximate build cost Block 1 @ $3,000 per sqm incl GST, Block 3 & 3A $2,800 per sqm incl GST & landscaping at $10,000 per townhouse.

Block 1 1,058 sqm build across 7 sold townhouses sold for $6,530,000 shows a margin of $1,186,000.
Block 3 & 3A 517 sqm build across 4 sold townhouses sold for $3,645,000 shows a margin of $957,400.
Block 1, 3 & 3a Total 1,575 sqm build across 11 townhouses sold for Total $10,175,000 incl GST, shows a total gross margin of $2,143,400.

The more competitive Build Price you can obtain transfers into an opportunity to make exceptional margin/s.

For more details please go to: (includes PDF Value Excel Spreadsheet)

Property Type
Property Category
House Size
151.0 Sqm
Land Size
200.0 Sqm

By appointment

One Agency Select Realty

Contact Salesperson Enquiry