55 Peer Street presents a unique opportunity to secure a 974 sq m RMD-zoned landholding in the highly sought-after suburb of Ilam, strategically positioned close to the University of Canterbury and surrounded by some of the area’s key retail and amenity offerings.
The property currently has a modern three-bedroom, two-bathroom standalone dwelling, positioned toward the front of the site and is currently leased. The home provides tidy accommodation, including a master bedroom with ensuite, generous living areas and a double internal-access garage, together with additional off-street parking and storage.
Importantly, the positioning of the house leaves a substantial balance of land to the rear, providing purchasers with an opportunity for further development and the addition of multiple dwellings, while retaining the existing home and its income stream.
The location provides a strong foundation for both investment and future development. The University of Canterbury continues to experience significant growth, supporting increasing demand for quality accommodation and additional student beds throughout Ilam and Upper Riccarton. With the University campus in close proximity, 55 Peer Street is exceptionally well placed to capitalise on this ongoing demand.
The property also benefits from surrounding amenity, neighbouring New World Ilam and within easy walking distance of Bush Inn Centre.
Whether your strategy is to retain the existing dwelling and develop the balance of the site, hold for income and future upside, or investigate a more comprehensive redevelopment, 55 Peer Street offers flexibility.
Don’t hesitate – this one is sure to attract strong interest. Contact the sole agents today for further information.
For sale by Deadline Private Treaty: 4pm, Thursday 13 November 2026 (unless sold prior).
*Boundary lines are indicative only.
Features:
* Large 974 sq m freehold landholding
* Residential Medium Density (RMD) zoning
* Existing three-bedroom, two-bathroom dwelling
* Established rental income / holding opportunity
* Significant rear land available for future development
* Prime Ilam location near the University of Canterbury
* Strong student accommodation demand and future growth
* Neighbouring New World Ilam and close to Bush Inn Centre
