Leasehold

Built in the mid 90s, this substantial five bedroom home occupies a 1246m2 leasehold site just minutes to Cornwall Park.  This is a home with real capacity with a split level formal lounge and dining, and a large separate kitchen/family room that spills to a covered outdoor area.  Located on the corner of Wheturangi Rd, its Double Grammar zoning and proximity to St Cuthberts and Cornwall Park District School within walking distance will no doubt add to its appeal.  This is an opportunity for those with cash flow looking to preserve their capital to enjoy a significant lifestyle for a fraction of the equivalent freehold tenure. cv $3,000,000

The lease term is 21 years,with 9 years to run, with right of renewal and the ground rent is $43,750 per annum.