Development Site with Holding Income

Description

Development opportunity for those who really want to roll up their sleeves. The price is right and my vendor is willing to sell at land value only of $810,000 + GST (if any).

This property will be sold "As is, Where Is" due to the nature of the 7 residential units that have a "Notice to fix" from Porirua City Council and are currently empty.

The commercial space is leased to a very popular local food supplier on a month by month lease and provides holding income while you develop your plans.

My vendors circumstances has changed but they will share their concept drawings for 18 x 2 bedroom residential units that you could pick up and develop further (subject to Council approval).

2 Commerce Crescent, Waitangirua is ready for a new owner with vision to make this desirable corner site come to life.

Viewing is by appointment only so contact the sole Agent today for more information.

PROPERTY DETAILS
  • Bedrooms:
  • Bathrooms: 
  • Car parking:
  • Floor area: 250m2
  • Land area: 1573m2
  • Estate type:
  • Rental status: Commercial month by month lease $38,400pa (inc GST)
  • Rates: $17,152
LOCATION
  • $810,000 + GST (if any)
  • Annual rates: $17,152
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ABOUT THE AGENT

Peter Ambrose

Licensed Salesperson
REAA 2008