Land locked

[Bullant]

Anyone have any thoughts of this investment risk?
The property has a valuation of 440k the asking price is 80k. The drive on access, has a strip taken by nzta, so one cant use the access, as it's now on a busy interestion. There is possible access via the property in front of said property, but alas owed by nzta. They currently wont give me access, although they used it this way while they rented it. This property was mine b4 being aquired by nzta, this is an offer back. I would need to get it sorted in court section 129b...."Would you buy it back"? Risks?

[Anthonyacat]

With a few more details, I'd probably buy it. Big potential opportunities for the future, or for anyone with a helicopter as the main form of transportation.

[John the builder]

buy

the Property act 2007 has something to offer s327.....

the issue will the court consider this reasonable given you are buying with knowledge. Get legal advise on whether conditional purchase is possible . Can you get access through other land?

[artemis]

Is pedestrian access permitted? Common enough to have no drive on access.

Is it bare land or does it have a building on it?

[Bullant]

Is pedestrian access permitted? Common enough to have no drive on access.

Is it bare land or does it have a building on it?

It has a 4 bdrm hse + seperate 1 bdrm hse. Land area 1082 sqm.
The drive ends on a foot path.

[Bullant]

Lol fly in fly out.
4 bdrm hse with 1 bdrm granny flat separate from main hse. The large cnr site site woukd be prime commerical land in future. Neg I'm nearing 60 & I do have arranged finance, but....?

[artemis]

Lol fly in fly out.
4 bdrm hse with 1 bdrm granny flat separate from main hse. The large cnr site site woukd be prime commerical land in future. Neg I'm nearing 60 & I do have arranged finance, but....?

Not sure if you mean there is no pedestrian access at all. That would be tricky, obviously.

[Bullant]

There is a driveway that starts at the foot path & ends at the house. There is no vehicle access permitted.

[John the builder]

A council fvvootpath?

how can they stop you driving over a footpath?

Has NZTA made the road to a motorway or something?

[Bullant]

Your point is the same as mine. No it's not a hwy or m/way at end of my drive, it's a busy intersection, that has an off ramp along the western boundry of my ex neighbours property which is no longer a hse, but a blank section. The road at end of my driveway is a regional rd.

[Bullant]

NZTA have created a segregation strip between the former driveway & the road. This is to stop access from the road to my property. There is no fence, brick wall. I can walk up it anytime. I could actually drive up it if I wanted to drive over the large curb that is now in place. The funny thing now, is the access is easier now then before as there is traffic lights controlling the intersection. But traffic islands stop me turning right in or out of property.

[Anthonyacat]

Any chance to sell it to the neighbour nearer to market value, or buy the neighbour's section, now or in the next 5-10 years? It seems like too good an opportunity to miss entirely, and for only $80k your opportunity cost isn't huge.

[Bullant]

Every reason I could do that & probably will :-)

[Keys]

Seems like, for $80k you have a perfect opportunity to erect advertising signage. Good return on that I would suggest.

[John the builder]

check with council?

do you have a crossing at the kerb?