Development Land and Dwelling
This fringe campus property offers the chance to invest in a development site with holding income already secured.
The site is capable of up to 29 habitable rooms in total (subject to consents) and options exist to either retain the six-bedroom property and develop the remainder of the land with up to 23 rooms, or demolish the property and develop the whole land of up to 29 rooms (subject to Council approval and the necessary consents).
The latter option offers the chance to build most of the development where the existing dwelling sits, which is a much flatter profile than the additional land below. This may offer lower construction costs and new blocks of smaller sized apartments are in high demand and fetching record prices in the current market where increasing demand for new property is prevalent.
An option to purchase the additional development land only and not the existing dwelling is also possible.
A full Colliers Information Memorandum, LIM and additional property documentation are available on request.
Please contact the Brokers for a further discussion and to arrange an onsite viewing.