Negotiation over $529,000
A compelling opportunity for investors and land bankers, combining holding income with future potential. Positioned on a freehold 615sqm (more or less) site within an Industrial Heavy Zone, this property offers a range of options for investors seeking a versatile asset with immediate rental potential and longer-term redevelopment prospects.
The existing three-bedroom bungalow provides comfortable, functional accommodation, featuring a spacious and sunny living area with a powerful heat pump, a practical kitchen with induction hob, wall oven and generous storage, along with three bedrooms (all with built-in robes), separate laundry and toilet facilities.
Adding further appeal, consented plans are in place for a substantial 12m x 10m garage at the rear of the property, creating an opportunity to add valuable floor space for storage, business use, a workshop or personal requirements, subject to the necessary council approvals.
•Rental appraisals indicating potential returns of up to $600 per week
•Potential gross rental return of 5.8%
•Consented plans for a 12m x 10m garage
•Approximate site dimensions of 15.29m frontage x 40.23m depth
•Freehold 615sqm (more or less) site in an Industrial Heavy Zone
•Three-bedroom, one bathroom
•Vacant possession, providing flexibility to occupy, rent or utilise the property for your own requirements
•Strong land banking opportunity with future redevelopment potential
With rental appraisals of up to $600 per week, the property offers the potential to generate holding income while you consider your longer-term plans. The additional garage could provide valuable space for storage, a workshop or business operations, potentially allowing an owner-occupier to live on-site while reducing overheads. Alternatively, for investors and land bankers, the combination of Industrial Heavy zoning, a sizeable freehold site and an existing income-producing dwelling provides an opportunity to secure a strategically positioned asset with potential for future upside.
Located just off Birmingham Drive, the property enjoys excellent access to Christchurch's central city and surrounding suburbs, supporting its appeal to tenants, owner-occupiers and businesses alike.
Whether you're looking to secure your next land banking opportunity, add to your investment portfolio or establish a base for your business, this property offers flexibility, holding income and future potential.
To download the information pack for this property, please copy and paste the following link into your web browser: http://www.propertyfiles.co.nz/property/5530876
