327 High Street
Central Dunedin, Dunedin 9016
5
2
1
Deadline Sale, midday 26th of June 2024
Immediate Opportunity: Urgent Action Required

Are you seeking a project to transform a stunning turn-of-the-century Edwardian Villa into a steady source of income to generate significant cashflow for years to come? Built in 1901, this spacious dwelling was initially constructed for a prominent Otago doctor who used the home to give his patients a new lease on life. The residence has now stood the test of time, and today these old bones desire a breath of new life too.

With a change in circumstances, the vendor of this centrally-located Dunedin property is motivated to sell, "as is, where is". The seller is not in a position to muck around, and has directed me to field any and all offers, with a preference for a quick, unconditional sale. Situated on a corner site within walking distance of the Dunedin CBD, this multi-unit-capable project offers a wealth of potential for the savvy builder, project manager, or developer.

This is a unique chance to capitalize on the demand that this precinct commands. Many well-presented properties on this street feature price tags well into seven figures. You might like to create your very own prestigious manor or retain it as boutique studio accommodation to yield a steady rental income.

The upside here could be significant; this three-storey villa consists of five one-bedroom studios, each with their own lounge and kitchen, and each with a separate power meter. The open basement area holds potential for conversion into a stylish New York loft-style apartment. Should you be interested in renovating the existing building, council consent for remedial works is approved and pending release.

Alternatively, the existing structure could be demolished under a current resource consent in place. It makes way for a new development, subject to council approving your designs. Sympathetic to the historic precinct it occupies, architectural concept drawings have been drafted detailing a multi-unit building with a total floor area of 980sqm!

To get your next project underway, contact me, Tim, asap.

Key Details
Property TypeHouse
Land363 sqm
Council rates$4,246.5 per annum
Water rates$369.37 per annum
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Upcoming Inspection Dates
Sun, 23rd Jun 2024
1:45pm - 2:30pm
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Listing Agent
Tim McGuire
Principal
027 562 7207
hello@timmcguire.co.nz
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