KELBURN INVESTMENT PROPERTY

- Kelburn Wellington

BEO $1,895,000

LOCATION / INCOME / UPSIDE / DEVELOPMENT POTENTIAL

This 1900s “Student Flat” makes for an excellent investment opportunity. Perfectly located directly across the street from the Victoria University Kelburn campus, and loads of extra land to expand, or re-develop. Rental appraisal puts income at $1,600-$1,800 / week.

However what makes this property an excellent investment option is its development potential. Significantly the vendors have consent-able “Bulk and Location for Development ” plans available that show options to add two 3 bedroom houses to the front section, or demolish the existing dwelling and build three 3 bedroom free standing houses.

And then there is the third option to leave the property as it is, as it still presents an ideal option for parents looking for a smart financial solution for their university student children’s accommodation needs (with development potential).

Property Values:
1900’s 2 storey villa – 180 sqm. 6 bedroom / 2 bathroom. 422 sqm section. Immediate proximity to Victoria University Kelburn campus. Also includes garage and car park on road reserve. Architects plans also available.

Info pack includes – LIM report, Builders Report, Title, Rental appraisal, Architects “Bulk and Location for Development” plans.

Currently tenanted.

Talking points:
• great student accommodation option as is
• proximity to university
• development options / potential
• site is Outer Residential (can re-develop by adding a further property)
• the consent-able footprint allowing 3 dwellings on the site
• 422 sqm section
• value for money (RV $1,970,000)

AVAILABLE FOR IMMEDIATE PURCHASE.

Call now for Info Pack, and to arrange a viewing.

Contact:
John Kettle
MB: 027 443 1355 / EM: [email protected]