10 Bankart Street, Raglan, Waikato

Invest in the heart of Raglan

Looking for an investment you can bank on? And don't think art; though there is a loose association with this Raglan property. Bankart Street. You won't find anything like it so near the town centre. Residential or commercial? Which do you prefer? This offers both - a key site; zoned residential, but confirmed retail and office use, under Waikato District Council's rule 21.0.

Sitting opposite the local Four Square Store, this is a freehold site at 639sqm (more or less) with a single-level brick residence of 187sqm (more or less). It currently houses six business tenants and leases through to 2023. That's immediate income. Better than any bank; whether you invest and maintain the status quo, or landbank with future development in mind.

While the building has obviously been reconfigured to accommodate the various businesses, it could be converted back to the original floor plan of a three-bedroom home. Apart from a full kitchen, the basics are here. There's a just a communal kitchenette at present. That's if you're looking for a home in the heart of town.

There is a much bigger picture here, however. Given the benefit of dual zoning, the opportunity for a mixed residential/retail development is worth considering - subject to resource consent of course. Just look at the address, groceries across the road and short walks to all Raglan's eateries and bars, the harbour and wharf, parks and shops. Buyers keep asking for properties this close to town.

Bank on it. Raglan - this really is the best of both worlds.

Call Graham Rope to view by appointment.