A range of future development opportunities

18, 18a and 20 Hobbs Street, Timaru

Private Treaty

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A range of future development opportunities

18, 18A and 20 Hobbs Street are offered for sale as one parcel or as part of a larger parcel in conjunction with 1-4/59 Ranui Avenue and 1 and 2/63 Ranui Avenue

β€’8,559 sqm of underdeveloped, fee simple land across 3 separate titles

β€’Zoned Commercial 2 under the Timaru District Plan

β€’High profile location adjoining the site of Timarus largest supermarket

Its rare to find a large parcel of underdeveloped land, close to the centre of any City - and Timaru is no exception. If purchased in conjunction with the other parcels offered for sale this opportunity provides 10,610sqm (more or less) of land ready for future development.

Located just off State Highway 1, this property adjoins the site of the Citys largest Supermarket and is located near several other commercial retailers. The site is only a fifteen-minute walk to a few of the popular local amenities including Caroline Bay and the Citys Aquatic and fitness centre.

This site provides an opportunity for redevelopment whether that be commercial or residential. Timaru has only a limited stock of modern, fully compliant commercial buildings, and this site's location makes a strong argument for future commercial development.

The ex Tavern that currently sits on 18A Hobbs Street would be in need of some refurbishment work if it is to be reinstated as a commercial premises. This building could be successfully repurposed to suit a number of commercial activities and provide some holding income in the short to medium term. 18 Hobbs Street comprises a vacant section while the property at 20 Hobbs Street comprises a single level bungalow which has had recent modernisation including a new roof. This property is currently tenanted providing holding income of $13,000 p.a.

Experienced developers should give this opportunity serious consideration. The owner is committed to securing a successful sale of this asset.

Available for purchase as one site or in conjunction with:

1-4/59 Ranui Av www.bayleys.co.nz/5511975

1 and 2/63 Ranui Av www.bayleys/co.nz/5577974

18, 18a and 20 Hobbs Street, Timaru

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