SUBSTANTIAL INVESTMENT or MAJOR REDEVELOPMENT
The fantastic location allows both concepts to work. Currently the building is 10 units which are all rented and makes for a great long term investment. The construction is Concrete block cladding, concrete floors and a long run roof. The section is a Freehold Title and 1265m2. The current Gross Annual return is $133,356.
The property is close to all facilities and is within 800 meters of the centre of Tauranga.
A Bulk and Location Study suggests the possible redevelopment of the site of up to and around 30 units.
This property is not to be overlooked. With the future growth forecasts for Tauranga, the prospects of the CBD and the arrival of the University of Waikato suitable accommodation be in short supply.
Please call or email for an information pack or to make an appointment to view.