Prime Albany St - Invest, Occupy, Lease or Develop

The property at 179 Albany Street, North Dunedin comprises two freehold titles totaling 405m² (more or less), with a building area of approximately 360m².

Constructed circa 1969 from solid concrete block with an iron roof, the premises offer drive-in access/parking to the side and warehousing at the rear. The layout includes multiple rooms, two bathrooms, and a central kitchenette alongside roller door access and ability to create a larger warehousing area. Public parking accessed directly across from the premises for additional off-site parking.

Previously occupied by Otago Polytechnic (training facility/rooms) and more recently by Sugar Boom (confectionery retail/distribution), the current lease returns $48,500 p.a. + OPEX + GST and runs to 21 October 2026. The tenant has indicated they will not renew, presenting an opportunity for vacant possession or a new tenant to enter a new lease agreement.

The vendor is GST registered. The building has a 44% NBS rating (May 2022 report).

Well-positioned near the University Campus, Otago Polytechnic, halls of residence, CBD, and key arterial routes. Potential for residential development (subject to consents) the prime location will appeal to investors, owner-occupiers, and developers alike. Surrounded by other entities such as Emersons, Unipol, Uniprint, Te Rangihiroa College, Dunedin School of Art and other new developments in the area including a new private hospital amongst others.

Key Points
• North Dunedin freehold site on a total of 405m² (more or less) over two titles
• Offering vacant possession in October 2026
• Suit owner occupier, or investor/developer or potential tenant
• Prime location in North Dunedin
• Commercial leasing opportunity at $48,500 PA plus GST
• Potential to develop residential accommodation, subject to resource consents (not currently zoned residential) - current zoning: 2GP, Section 19, Industrial

Enquire now for a full information memorandum or to arrange to view.

To be sold via Deadline Private Treaty (unless sold prior) closing at 4pm on Wednesday 10 June 2026, at our offices, Edinburgh Realty, 578 George Street, Dunedin.