75 and 87 Russell Street, Central City, Dunedin

Ripe for development or renovation

Deadline Sale: Wednesday 23rd September 2020 (unless sold prior).

Located on the city fringe in a sought after area of town, two separate dwellings (on the same title) are offered to the market on an as-is where-is basis for the first time in 28 years.
Positioned on a 506sqm (approximately) parcel of land, the section backs directly on to the green belt. Zoned Inner City Residential, the properties are ripe for remediation or a redevelopment opportunity.
The 2 dwellings include a 3 bedroom, 1 bathroom cottage with fabulous views over the town belt, and a 4 bedroom, 1 bathroom wooden bungalow with a large front lawn, both of which are currently tenanted.
The tenants 13+ year tenure is testament to the immense desirability of the location. Walking distance to the CBD and university, with excellent schools in close proximity, this prime development opportunity cannot be denied.
With strong rental demand and a limited number of rental properties available moving into the Dunedin hospital rebuild, the opportunity to secure development land of this calibre is undeniable. Our vendor is looking for an early settlement, savvy investors and developers would be wise to consider this fantastic opportunity.
Highlights include:
•Popular city fringe location
•506 sqm (more or less) freehold site
•Inner City Residential Zone
•Potential for multi-unit development (subject to resource consent)
•Fantastic opportunity to develop, land bank for the future
•Walking distance to the CBD and University
•Excellent school zone for both Otago Boys and Otago Girls High Schools
Contact us and start planning your next project today.