8 Rimu Street, Eastbourne, Lower Hutt

Over 100 and still going strong

First time on the market in 43 years this centenarian character building presents an abundance of opportunities for the astute investor.

Located on the north side of Rimu Street in the Eastbourne Village and close to the Rona Bay Wharf, this is the beating heart of the Eastbourne and Bays community.

Situated on the eastern shore of Wellington Harbour, five kilometres south of the main Lower Hutt urban area and directly across the harbour from the Miramar Peninsula in Wellington city. The Bays comprise 2000 residential homes spread over the seven main small bays with a population of around 5,000.

The property is currently occupied by a long standing gymnasium which is popular and well utilised by local clients.

The property could easily suit alternate uses. The eight metre height limit, with residential accommodation above ground floor being a permitted use and a current site coverage of only 39% make partial or full redevelopment a serious alternative.

- The building - A single level character retail building
- The bonus - Rear yard and garaging
- The frontage - 14.8metre frontage to Rimu Street
- Potential income - $27,400pa net + GST

To obtain copies of the supplementary documents visit http://www.propertyfiles.co.nz/property/3252244