22 & 24 Stafford Street, Dunedin Central, Dunedin City

Positive Cash Flow/Development Opportunity

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22 & 24 Stafford Street, Dunedin Central, Dunedin City

Positive Cash Flow/Development Opportunity

Investment property For Sale

Deadline Sale

Closing 4pm Wednesday 20th March 2019, at our Dunedin office (no prior offers)

About

The properties located at 22-24 Stafford Street, Central Dunedin offer an exciting opportunity for further development or as an owner occupier onsite coupled with the ability to enjoy an existing positive cashflow with a mix of commercial and residential tenancies.

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These freehold character commercial properties are located within the central business district (central activity zoning) and very close to the heritage precinct area within the central city. The properties sit on two freehold titles each being 1,012m2 (more or less) with two buildings in each title (thus four buildings in total). They are not Heritage New Zealand listed properties.

22 Stafford Street
Two commercial tenancies (PARS - Prisoners After Release and Wesleyan Church) in one building, the other building as part of number 22 over three levels is leased as studio rooms (artists) with 6 bedrooms at top level, and artist’s studios who collectively pay one rental payment. Up to 12 carparks are located at the rear of this building, leased to PARS, the Church and a neighbouring business.

24 Stafford Street
One commercial lease in place (IDEA services, building says number 26). The other building has residential apartments, three residential flats, 1 x 5 bedroom, 1 x 3 bedroom (plus bonus room) fully leased and a one-bedroom flat 24D Stafford Street leased with one carpark, a large outdoor area and is located at the rear of the building of 24 Stafford Street, accessed through the carpark of 22 Stafford Street. All are fully leased.

22 and 24 Stafford Street (all four buildings) are being sold as one, there is a lot of building and land being sold in such a good location!

property details +

Web iD: DO10120
Approximate land area: 2024m2
Approximate floor area: 2018m2

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Agents

Lane Sievwright

Lane Sievwright

Property Consultant

Mobile: 021 526 366
Direct dial: 03 470 2516
After hours: 021 526 366

Merrin Bath

Merrin Bath

Commercial Consultant

Mobile: 027 202 0903
Direct dial: 03 470 2549