Two adjacent properties with a combined land area of 2,024m2 (more or less) are being offered together and present a once-in-a-lifetime opportunity for developers scouting their next project. Zoned Mixed Housing Urban there are plenty of options for high-density redevelopment with convenient positioning to motorways, amenities and public transport. In short, there is money to be made here!! With services nearby and excellent road frontage, you will want to speak to your architect today to investigate the myriad of possibilities on offer.
While you are finalising your plans and waiting for consents there is a serious cash-cow already sitting on both sites;
- 4092 Great North Road has two dwellings sitting on the 1,012m2 site. A massive nine-bedroom, one-bathroom, two toilets and two showers house is currently configured as a boarding house with a 50-year boarding house resource consent in place. Additionally, a three-bedroom, one-bathroom house with 4 sleepouts sits on the site. The current income is is approximately $3,000 per week with a 75% occupancy with further potential possible.
- 4094 Great North Road boasts a 141sqm four-bedroom, one-bathroom house with four sleepouts on a freehold 1,012m2 (more or less) site. The current income is $1640 per week with 84% occupancy.
So in total 16 bedrooms and ten sleepouts return a combined annual return of $4640.00 per week/$241,000 per annum. This presents the perfect income stream while you are waiting to redevelop the site, or an excellent opportunity to landbank and look towards redeveloping sometime in the future. Regardless of what you choose to do, there are options galore!
Call Peter on 0272 488766 and make your first steps to securing this exceptional offering today! A property information pack is available on request.
Book your private viewing now through this link https://www.barfoot.co.nz/our-people/p.hutson/viewing
Please note that if you attend an Open Home, there can be a mix of people with and without My Vaccine Pass in attendance, or alternatively contact the agent to arrange for a Private Viewing.