4 and 6 Mill Road, Whitianga, Thames-Coromandel

Development site with potential holding income

4-6 Mill Road, Whitianga presents a sizeable land holding within the prized waterfront zone of Whitianga. The property is currently consented to run as a motel, however in recent times has been rented as permanent accommodation. Although it is being sold as vacant possession the property has the potential to return an income of circa $140,000 pa.
The property has multiple units ranging from a studio to two-bedroom units with eight in total and a two- bedroom managers/owners accommodation.
The managers/owner's accommodation is well presented with a hidden outdoor entertaining area that will make you want to invite people over, situated at the front of the property it has a detached garage and shared driveway with the rear unit. All units are presented to a good standard, well maintained with modern fixtures and fittings.
The opportunity exists to take advantage of the two titles and their prominent CBD positioning with waterfront zoning. This unique zoning allows for the property to be developed maximising use of the sites allowing for 50% site coverage and construction up to 10m high. In a town that has growing pressure on permanent accommodation options the site strongly lends itself towards a town house or apartment development.
Auction: (unless sold prior) 12pm, Tue 26 Apr 2022, 96 Ulster Street, Whitianga
Chattels:
Curtain, Light Fittings, Fixed Floor Coverings, Washing Machine
Nine Ovens
Nine Wall Heaters
Six Free Standing Wardrobes
One Rangehood