308-320 Richardson Road, Mt Roskill, Auckland

Generational investment opportunity

Offered to the market for the first time in over 30 years; 308, 316 & 320 Richardson Road is a substantial and high-profile corner site, strategically located within easy reach of the Southwestern Motorway, public transport links and Akarana and Maungakiekie Golf Clubs.

Spread across three freehold titles, on a total of 6,151sqm (more or less). A combination of 14x dwellings includes 4x four bedrooms units, 9x two bedrooms units and a four bedroom house. All are individually tenanted and currently returning circa $320,000 per annum. The highly favourable Terrace Housing and Apartment Build zoning (THAB), provides for a multitude of high-intensity residential development options. All properties benefit from street access via Welsh Street which is a quiet cul-de-sac.

This property will have wide appeal to the development and investor market, offering the incoming owner the benefit of multiple income streams until you are ready to break ground.

• 6,151sqm total approx. across three titles
• Terrace Housing and Apartment Building Zoning (THAB)
• 14x individual dwellings include 13x units and 1x house
• High exposure site on the corner of Maioro Street and Richardson Road

Situated in close proximity is a range of current and future amenities including New World, Countdown, Stoddard Road's multi-level SOHO Hotel (under construction), and Goodman's Roma Road industrial estate (under development).

Large lots with holding income of this calibre are rarely seen on the open market and this one is not to be missed.