This substantial, 12-bedroom period style property is an ideal cash flow generating asset as is, with potential for further development with a clever re-think on the property. The location and property is well suited to both students and workers wanting a quiet environment to live and study.

The property enjoys good sun, off-street parking and elevated sweeping views from some rooms across the cityscape and out to sea. It comes near fully furnished including a fully equipped kitchen, and all the necessary furnishings in each room so that tenants can simply move in and receive everything they need within their rental payment.

The property is capable of $1,815 per week in rent, while upgrades to the property could assist to lift rents further if desired. Current room rates are generally $145-$155 per week, with the landlord paying the outgoing costs.

Savvy developers may consider combining several rooms within the property to offer a smaller amount of larger rooms within the existing dwelling, then allowing capacity for new units to be built on the property (subject to appropriate consents). Space at the rear accessed by a wide driveway makes this plausible with the benefit of the new units soaking up sweeping elevated views.

A full Colliers Information Memorandum including all property disclosure details, rent schedule, tenancy details and chattels list is available on request.

Viewings are by private appointment only with our Broker.

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