Freemans Bay backpackers and strong cashflow


65 Wellington Street, Freemans Bay

By Negotiation

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Freemans Bay backpackers and strong cashflow | 65 Wellington Street, Freemans Bay | 1687504 |      X Close
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Freemans Bay backpackers and strong cashflow


• 546sqm freehold site in Freemans Bay

• Central city residential dwelling converted into backpackers accommodation

• $175,000pa net income (approximately) last 12 months

• Zoned Terrace House and Apartment Building (THAB)

• Close proximity to Ponsonby, Karangahape Road, and transport routes

This freehold, 546sqm central Freemans Bay site offers strong options for investors,

developers and owner operators. A converted residential property operating as

backpackers accommodation for over 15 years.

Current net income of $175,000pa (approximately) delivers robust cashflow with

potential for increased income from the established business. The Auckland

accommodation market is undersupplied and the property is well positioned in the

closely held Auckland suburb of Freemans Bay.

The property is zoned Terrace House & Apartment Building, providing for the

greatest density, height and scale of development of all the residential zones

stipulated by the Auckland Council.

For further information please contact one of the listing agents:

Stuart Bode

027 493 6223

stuart.bode@bayleys.co.nz

Mike Bradshaw

021 244 2264

mike.bradshaw@bayleys.co.nz

65 Wellington Street, Freemans Bay

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