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Situated on a 6197 sqm plot facing north and surveyed by Lamb & Associates, this residential apartment with approximately 8230 sqm floor area complex is a lucrative opportunities for both developers and investors. Detailed concept plans are available for interested buyers, aiming to revamp the property to accommodate over 115 apartments for optimal usage and returns.
Under the Residential Terrace Housing and Apartment Buildings zoning, the current setup of 32 units generates an annual rental income of around $850k. Two low-rise blocks, enjoying ample sunlight, enclose a sheltered communal courtyard. Positioned at the highest point of the property, there's a shared terrace and a swimming pool along the western boundary. Each apartment boasts its own deck and conforms to the design standards outlined in the North Shore City Council's Good Design Guide, with a focus on lower density living and European-inspired interiors. The property features basement parking, ample on-site parking, designated utility areas, and certain units even include mixed-use zones, enhancing their commercial appeal. With an appealingly landscaped street frontage and close proximity to cafes, gyms, offices, and the North Shore Golf Club, the property appeals to urban professionals and students alike.
Its prime location, just minutes away from Massey University campus and the North Harbour Stadium, with convenient access to public transport, beautiful beaches, the Albany Business Park, and extensive retail options, underscores the exceptional opportunities this development offers. The property may not have a CCC in place. All purchaser need to do their own due diligence. For further information and to express interest, please contact Isabel (0220606078) or Kelvin (0220462770)