City Fringe: Remediate or Redevelop

3 Edinburgh Street, Auckland Central


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City Fringe: Remediate or Redevelop | 3 Edinburgh Street, Auckland Central | 1693096 |      X Close

City Fringe: Remediate or Redevelop

β€’ Water damaged City fringe apartment complex

β€’ Repair and reinstate or redevelop this site

β€’ 12 individually titled apartments with car parking

β€’ 528sqm landholding with development intensive zoning

β€’ Potential to generate holding income while consents are sought

β€’ Strategic position close to CBD and K'Rd CRL station

Completed in the early 2000s, The Zone Apartments consists of 12 individually titled residential apartments. This apartment complex contains one 1-bedroom apartment and eleven 2-bedroom apartments. The apartments are all spacious ranging in size from 73sqm to 84sqm and all have outdoor living areas in the form of courtyards or decking. Each apartment has carparking in the building's basement.

The Zone Apartments has experienced water ingress and has other building defects and associated damage. Reports detailing this have been made available by the Vendor for due diligence purposes. The properties will be sold in an as is where is condition. Undertaking remediation works provides the astute purchaser with the opportunity to sell down the upgraded apartments individually for profit. Or, take advantage of the strengthening residential rental market to achieve a strong return. Alternatively, there is the option of redeveloping this under-developed City Fringe site.

3 Edinburgh Street, Auckland Central

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