2-6 Carroll Street, Central City, Dunedin

Prized CBD development site with holding income

• Total 1,201sqm (more or less) on two titles
• Highly visible corner site on busy main street intersection plus easy access
• Proximity to CBD, Andersons Bay Road, and South Dunedin commercial centres
• $86,616 current income not allowing for vacant spaces
Develop now or hold for future opportunities. This is a statement corner site prominently situated in the Dunedin CBD enjoying high passing traffic volumes. Excellent access to the city's commercial centres with easy on-street and onsite parking options.
Two freehold titles, three buildings, currently up to seven tenancies plus leased parking with demolition clauses in place. Two front buildings are 40% and 15% NBS respectively, the rear building is 40% NBS with a pathway to achieve over 67% if desired. Short to medium-term rental improvement options include converting the ground floor to car parking and leasing two upstairs spaces as five and three-bedroom apartments.
New planning rules open up wide possibilities for this site.