A rare opportunity to secure a consented residential conversion project in the heart of Albany, positioned on a substantial 6,087sqm fee simple site zoned Business - Local Centre.
The opportunity benefits from resource consent to convert an existing three-level building into a 45-apartment development, including the addition of a fourth level.
Originally configured for residential use, the building provides an efficient, cost effective pathway back to apartments compared to full new builds.
Underpinned by good holding income from a mix of ground floor tenancies, the asset also features excellent on-site car parking and easy access to key amenities.
Located in a proven Auckland growth precinct with strong demand for accommodation, this is a compelling opportunity for developers and investors seeking scale and residential upside.
The vendor is motivated and will consider all offers.
Contact the Sole Agents now for further information or to arrange an inspection.
Shoneet Chand 021 400 765, Matt Prentice 021 464 904 and Janet Marshall 021 684 775
Features:
- Resource consent for 45 apartments
- Conversion of existing building + additional fourth level
- Vendor motivated – all offers to be considered
- 6,087sqm fee simple title
- Zoned Business – Local Centre
- Originally configured for residential use
- Good holding income from ground floor tenancies
- Excellent on-site car parking
- Net lettable area - 3,722sqm
- Ability to stage development over time
- Located in high-demand Albany growth precinct
More information: https://www.colliers.co.nz/p-NZL67040598
