Create Amazing Spaces
This prominent corner building is ready for the next stage of its story after a long 120 year history and is awaiting a new owner to renovate into new amazing spaces. Five metre studs on both floors hint towards the grandeur of a past era, and smart design could retain or even enhance the theatrical feel while incorporating clever mezzanine levels to extend the floor areas.
The property is on leasehold land with ground rents of $11,850 + GST locked in to 2037. The building has no existing developed areas or building consents but does has a current resource consent for conversion to 12 residential or commercial units and the market is well and truly ready for this building upgrade.
The apartment market is maturing and performing strongly in this sector with multiple other buildings developing into successful apartment conversions while the Vogel Street area bounds ahead in popularity with businesses and residents. The recently altered Jetty Street walkway now boasts a chic inner-city café style, with this building directly on its doorstep.
Investors can take confidence in this area and that the market will deliver for them.
Asking Price - $250,000 + GST (if any)
Contact the broker for an Information Memorandum or to book a viewing.