Opposite the council chambers and a stone’s throw from one end of the soon-to-open arterial road, the properties are 3 Gorge Rd — occupied by two recently-renovated three-bedroom flats — and the adjacent 4 Turner St — another renovated home with four bedrooms across two floors.
Both properties had the same local vendor, but were also for sale separately.
Local Colliers agent Richie Heap, who marketed the properties alongside colleague James Valentine, says the undisclosed buyer is landbanking the sites — respectively 712 square metres and 506sqm — for future development.
The properties share sought-after high-density residential zoning, with the ability to potentially be developed to a higher height — 16.5m — under proposed changes to the district plan.
Six months ago, Amber Lodge Motel, which is on the other Gorge Rd/Turner St corner — with a land area of 1012sqm — sold at auction for $5.15m.
