Bulk Accommodation Project
The property offers an opportunity to secure a clean canvas building to develop bulk accommodation for the bursting demands of the city's rental pool. The property offers up to 15 bedrooms, a large dual kitchen, large living area and several bathrooms including two ensuites on the upper two floors, that are ripe for use as boarding house tenancies or worker accommodation.
Some of these rooms are refurbished and complete on the first floor, while the second floor has been mostly painted but some re-carpeting and furnishing would be beneficial. Some upgrade work to the bathrooms is still required.
The ground floor offers two separated areas formerly used as drinking establishments and still equipped with much of the character and bars intact. This could be re-used for commercial operations or potentially converted to self-contained apartments with the appropriate consents.
In a thriving and very tight rental market, this project will help ease the demand slightly across the city or provide for the pending worker accommodation needs expected to strike the city in the next few years.
Please note any purchase price should be + GST (if any).
A full Colliers Information Memorandum and additional property documentation including LIM is available on request.
Viewings are by private appointment only with our Broker.
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