224 Hobson Street property offers a rare chance to invest or redevelop in one of Auckland CBD’s most dynamic and upcoming areas. The property is nestled in a tightly held mixed-use precinct on the western fringe of the CBD, an area that is undergoing significant rejuvenation, development, and growth. The tenant, Hobson Lodge is a well-established and respected backpacker/short-term stay provider and has a great occupancy rate.
The subject property is a stand-alone building over two levels and has an intense backpacker/short-term stay fit-out, with multiple bedrooms, bunk rooms (up to six beds in each room), kitchen, break-out areas, and bathroom facilities on each level.
The location offers excellent access to motorways, public transport, a precinct, and the eclectic City Works Depot hospitality, office, and residential complex.
Based on the current zoning rules, the existing owner has obtained a scheme plan to show the development potential on this site. The zoning allows for the redevelopment of up to eleven levels.
224 Hobson Street property is currently held under two Unit Titles, which are under the same ownership and will be sold jointly together so effectively the property will be its own the entire freehold site.
A great opportunity for an astute investor, land banker, or developer to purchase this site and enjoy a solid holding income while you plan a development for now or in the future.
- The property is currently being operated by successful backpackers/short-term accommodation.
- Currently returning net $463,601 p.a.
- Freehold site of approx. 864sqm with good road frontage.
- Inner city CBD location, Close to Train stations, Bus stations, Sky Tower, Viaduct Harbour, Ferries to Devonport, Waiheke - Island and more.
- Business City Centre zoning allows for redevelopment of up to 48m mixed-use development.
Property is being offered for sale by Price by Negotiation.
For all viewings or more information please contact sole agents.