Prized CBD development site with holding income

• Total 1,201sqm (more or less) on two titles
• Highly visible corner site on busy main street intersection plus easy access
• Proximity to CBD, Andersons Bay Road and South Dunedin commercial centres
• $86,616 current income not allowing for vacant spaces
Develop now or hold for future opportunity. This is a statement corner site prominently situated in the Dunedin CBD enjoying high passing traffic volumes. Excellent access to the city commercial centres with easy on-street and onsite parking options.
Two freehold titles, three buildings, currently up to seven tenancies plus leased parking with demolition clauses in place. Two front buildings are 40% and 15% NBS respectively, rear building 40% NBS with pathway to achieve over 67% if desired. Short to medium term rental improvement options include converting the ground floor to car parking and leasing two upstairs spaces as five and three bedroom apartments.
New planning rules open up wide possibilities for this site.

Additional Features

  • Development ?: Yes

  • Investment Type: Tenanted Investment

  • Commercial Type: Other

Robin Hyndman (Phone +64 27 488 8450)
Robin Hyndman
Commercial Real Estate Marketing Consultant