For sale by Online Auction
The Online Auction is under way and digital bidding starts immediately and concludes at the Final Bidding Stage. It is recommended to register a starting bid early to avoid disappointment. Bids conditional on pre-approved finance are permitted subject to seller approval.
Located in the absolute heart of the University of Otago precinct on the iconic Castle Street, this five-bedroom flat represents a blue-chip addition to any investment portfolio. Positioned in a high-demand rental zone where vacancy is virtually non-existent, the property is secured for 2026 on a fixed tenancy of $1,075 per week. This asset is a favorite among students, consistently attracting tenants very early in the annual letting cycle and providing owners with unmatched financial predictability.
The internal layout maximizes tenant satisfaction, featuring five spacious bedrooms complemented by a functional open-plan kitchen and living area. Uniquely, the floor plan includes a second dedicated living room, offering residents the rare luxury of additional space to spread out, which is a significant advantage in the local rental market. This configuration ensures the property remains a top-tier choice for student groups year after year.
Investors can purchase with absolute confidence, as the vendor has proactively invested in the property’s longevity. Recent maintenance and comprehensive electrical upgrades have been completed to ensure the dwelling meets tenants’ standards including full Healthy Homes compliance. Furthermore, a full suite of due diligence documentation is available for your perusal, including Building, LIM, Healthy Homes, and Electrical reports. This is a turnkey opportunity offering stability and consistent capital growth potential in New Zealand’s famous student rental market. With student numbers continuing to rise, this is the investors market of choice in 2026.
The property is open for Buyers to register and submit a bid from now until 6:00 pm, Tuesday 10 February 2026 when the Final Bidding Stage will commence (unless brought forward by the Vendor). Contact the sales agent early to become qualified.
Send an online enquiry to receive a full Matt Morton & Co Information Memorandum and additional property documentation.
Please contact me today to discuss this premium asset further and arrange your private viewing appointment once the information has been reviewed.
