已经下架
Price by negotiation
Accommodation is positioned over four large modern buildings with a total of 73 bedrooms offering a mixture of studios and individual bedrooms with shared bathroom facilities. All sited upon a large 9,060sqm land holding of Residential Suburban Zoned land and positioned a mere 5kms from the City Centre, this complex is currently utilised as an accommodation business.
With a total floor area of 2,135sqm and all four buildings being built in 2005 or later. Originally the complex was built as an education facility and sports management college, largely for Korean students however this was converted to residential accommodation in 2013 post earthquakes when there was a shortage of accommodation for workers.
At the forefront of any new ownership is the opportunity for redevelopment, repurposing, or expansion of existing accommodation. With resource consent granted to create unit titles over 12 units and a proposal for an additional 23 apartments within the complex that, if built, would increase income and equity with little disruption to the existing tenancies.
• 9,060sqm of freehold land
• Two titles
• Redevelopment, repurposing, or expansion
• Dual access, Innes Road and legal access through Queenswood Gardens
A truly compelling opportunity can be purchased with vacant possession OR with a 2 + 5 year lease in place on settlement and would continue to be utilised as a boarding house facility. Opportunities at this scale in such a sought-after location are becoming more and more scarce. Significant upside exists for the new owner in terms of development opportunities with excess under-utilised land, expansion of existing accommodation, repurposing of the modern buildings or complete redevelopment.
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