Unprecedented demand equals strong cashflow

90 Bank Street, Whangarei Central

Private Treaty

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Unprecedented demand equals strong cashflow | 90 Bank Street, Whangarei Central | 1052417 |      X Close

Unprecedented demand equals strong cashflow

This property has dual frontage to Bank Street and Butter Factory Lane in CBD Whangarei. It is a substantial early 1900's building that has been progressively maintained, modernised and strengthened.

Spread over four levels, the building is currently configured to provide long-stay boarding accommodation for up to 10 residents. Share facilities include toilets, showers, laundry, kitchen and dining spread through the building.

In addition to the current leased rooms, there is a former kitchen/lounge/dining area in the upper basement part of the building that faces out to the eastern end of the building above Butter Factory Lane. This space also has an adjoining 40msqm private deck and its layout suggests that it could be converted to managers or owners apartment - subject of course to Building Consents.

There is additional potential for two further rooms in the lower level - again subject to Building Consent and conditions.

This is an interesting property that could appeal to a remote owner or a live-in operator/owner or a live-in operator/owner.

The property shows good steady weekly income and enjoys consistently high occupancy levels that show no sign of changing in the current environment.

Property is for sale plus GST.

For further information contact the SOLE agent today. John Haselden 027 280 8980

90 Bank Street, Whangarei Central

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