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A significant demand for residential development land in Napier continues to build. Bayleys are delighted to present this prime development opportunity in the heart of Napier's long established residential suburb of Marewa.
Offering 5,081sqm (more or less) of freehold land within the Residential Zone, this former school site provides holding income of $160,000 (net) per annum from eight existing units on periodic tenancy, recently refurbished. Retain or replace these existing units with higher density rental homes to meet Napier's unmet demand.
An easy walk to the local primary school, with shops and reserves in the area, and just a short trip into Napier CBD.
Start developing immediately, or landbank for future value.