22 Molyneux Avenue, Cromwell, Central Otago, Otago

Developers, investors, renovators, tradies, first home buyers, and holiday home seekers - this one’s for you. Positioned in the heart of iconic Old Cromwell, this rare 1,012sqm (more or less) freehold site with approved consent for a three-lot subdivision is the kind of opportunity that doesn’t come around often - especially under new district plan rules. Whether you’re looking to build, bank, or breathe new life into a character home, this property opens the door to endless potential.

Originally built in the 1960s, the home is full of charm and surprisingly spacious, featuring beautiful, raked ceilings that add volume and light to the kitchen, dining and lounge. With three large bedrooms, a family bathroom, separate toilet, a heat pump and a wood burner, the home is move-in ready while still offering scope to renovate and add value. In the meantime, you can generate holding income with rental income (its currently tenanted) while preparing for the next phase—building a new dwelling at the rear or progressing the full subdivision. With resource consent already granted for three lots, you’ve got a serious head start on a project that’s no longer allowed under the current zoning regulations.

Framed by stunning schist stone fencing, the property not only offers privacy but undeniable street appeal. The flat section lends itself perfectly to a staged development approach, and savvy buyers will see the value in securing a site where the reserve contributions fall under the old regime—saving significant costs upfront.

The location seals the deal. Directly opposite Molyneux Educare and just a short stroll to Cromwell Primary, this family-friendly area is rich in lifestyle. The historic Old Cromwell Heritage Precinct, nearby playgrounds, and Lake Dunstan are right on your doorstep. From cycling and walking trails to world-class wineries, there’s never a dull moment - and with Queenstown and Wānaka just a short drive away, this location combines small-town charm with big-time accessibility.

Whether you’re keen to build and sell, live and landbank, or develop and hold for the future, 22 Molyneux Avenue is brimming with possibilities.

Don’t let this chance slip through your fingers. Contact Keeley or Niki today to view this rare find and make your next smart move in Old Cromwell.