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An exceptional opportunity for investors, land bankers, and developers to acquire a secure investment with huge future upside.
The property is a fully leased three-level building currently configured as 13 residential flats over two levels, and one level of secure basement parking. This 606m² Freehold site with Mixed Use zoning allows for a range of future activities.
Whether you want to retain the existing improvements and benefit from the secure income or redevelop, the new CRL located on its doorstep will ensure this property enjoys continued growth in the future.
KEY FEATURES:
• Returning $280,800 gross per annum from 13 residential tenancies
• 606m² Freehold site with Mixed Use zoning which permits a wide range of uses including residential/office/retail
• 722m² floor area over two levels plus 14 secure basement car parks
• CRL proximity - located on the doorstep of the new Mount Eden Station
• COVID-19 proof cashflow - 100% of rent payable throughout COVID-19 levels
• NPS up zoning - proposed increase to a minimum of six stories of development
The property sits in the immediate vicinity of the Mount Eden Station (currently under redevelopment). Due for completion in 2024, this will offer a world-class underground rail service with the capacity to move 54,000 people per hour.
The area around this station will benefit from major intensification and redevelopment and the area is also expected to benefit from re-zoning under the National Policy Statement.
Please contact the sole agent now for your viewing time and more information.