1 and 3 Happy Valley Road, Owhiro Bay, Wellington

A decision to sell after more than 22 years of ownership by one family has opened up new possibilities for the future of two very unique Owhiro Bay properties. Set back from the southern coastline, each of the adjoining properties encompasses 501m2 of freehold land, is street facing, has a bus-stop opposite, is within easy walking distance of Owhiro Bay School, and ideally positioned to capture stunning views of Owhiro Bay and the Cook Strait. Current use of the properties is a mixture of residential and commercial. 1 Happy Valley Road includes a two-storey dwelling in two apartments - one with three bedrooms on the upper floor, the other with five on the ground floor - plus a workshop at the rear. Both apartments are tenanted. The workshop at the rear connects into a substantially larger workshop at 3 Happy Valley Road housing 14 artist studios, a small gallery and large functions room. The smaller neighbouring workshop provides a further 5 studios. The workshops are tenanted by the Nautilus Trust - established to provide a supportive work environment for local artists. Both properties are zoned residential. The properties will be offered with vacant possession three months after the sale becomes unconditional. Should the new owner wish to extend the tenancies, all tenants would be pleased to remain. The tenancies have been largely self-managing. The properties will appeal in particular, but not solely, to investors, buyers looking for a home and income, buyers looking for a good-sized workshop, and to developers keen to harness the potential afforded by their stunning location. The properties may be purchased separately. Viewings of the properties should be arranged in advance and will be restricted to Wednesdays and Saturdays between 3.00pm and 4.00pm. Further information will be provided on request.