2/369 Adelaide Road, Newtown, Wellington

Prime development site with holding income

A rare 2,132sqm high-density residential site at the high point of Adelaide Road, offering exceptional future development potential with panoramic views, all-day sun, and a commanding position over Mount Cook, Te Aro, and towards the harbour. This two street access property is strategically located on a main mass transport route and within the medical area of Wellington.

Currently returning approximately $200,000 + GST net per annum from a mix of well-maintained commercial and residential tenancies, this property provides strong holding income while you plan your next project.

The zoning allows development up to 22 metres without the restrictive minimum six storey requirement imposed on many other city sites. This flexibility ensures a range of design and staging options, making the property ideally suited for forward thinking developers.

Opportunities of this scale and income profile are scarce. The market is already showing signs of recovery - move now to secure a site with both income and long term potential.

To obtain a copy of all supplementary documents please register your interest at https://www.propertyfiles.co.nz/property/2_369adelaideroad

• Flat development site with substantial holding income
• Land Area: Approximately 2,132sqm
• Zoning: High-density residential (build up to 22m)
• Net holding income: approximately $200,000 pa + GST