Impressive Inner city development site of 2,315m with $650,000 holding income from a 2-year lease with demo clause.

Positioned just 100m from the heart of Wellington's political and business district, this substantial 2,315m² flat site - set across two elevated benches makes this one of the most compelling development prospects in the inner city. Less than 500 metres from the Beehive, the site benefits from unparalleled proximity to the CBD, Parliament, and major transport links

The property delivers strong cashflow while you plan your next move.
Zoned High Density Residential with a 22-metre height control, the opportunities are extensive
The site is ideal for a multi-unit townhouse development or a vertical build to fully leverage the location and zoning or hold the existing buildings and income and add a large amount of townhouse or apartments. Options galore!

Currently comprising of 36 rooms across six flats
1. 6 flats (36 Bedrooms across) earning $550,000 per annum
2. 30 carparks earning $100,000 per annum

This is an outstanding land-bank, development, or long-term investment proposition.
A rare chance to secure a large, flat, high-density site in the city centre-opportunities of this scale and location seldom come to market.

A full information pack will be available upon request.