Large accommodation complex


23 Creyke Road, Ilam

By Negotiation

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Large accommodation complex | 23 Creyke Road, Ilam | 5516214 |      X Close
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Large accommodation complex


Price by Negotiation

Located in the heart of Ilam, only metres from the University of Canterbury, this purpose-built 30 bedroom complex, specialises in post-graduate student accommodation. With an on-site night manager, it has a reputation as a quiet, peaceful and warm study environment with multiple long term tenants and a waiting list already accumulating. Specialising in post-graduate tenants has meant that there are very few vacancies over the Christmas period with most students staying on or holding their room, providing steady cashflow all year round.

As an investor, the great cashflow this property produces would allow you to engage a property manager, to assist in the hands-on management, alongside the onsite night manager. Or, if you are looking for a lifestyle job, the owner has self-managed the property and spends an average of 5 - 10 hours per week managing the complex and would offer assistance during a transition period to any new owner.

Well set up with 30 large bedrooms, two kitchens, a shared lounge, office, storerooms, commercial laundry, multiple shared bathrooms and 14 ensuites. The central heating system is a real benefit and one of the reasons the tenants stay long term as the property is always warm throughout.

This is a great business opportunity or an investment proposition with fantastic cash flow. Ideally located for your customer base to ensure consistency of income for years to come. Sited on 1,004sqm of TC2, and located in the Special Purpose Zone for Tertiary Education, with a total floor area of 990sqm spread over three levels, this property has many merits and offers a wonderful opportunity to an astute buyer.

This property will be sold plus GST if any

Strictly viewing by appointment only.

To download the information pack copy and paste the below link into a new browser:

https://propertyinvestmentchristchurch.co.nz/23-creyke-road

Angela Webb

Christchurch

Licensed under the REA Act 2008

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23 Creyke Road, Ilam

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Angela Webb

Christchurch

Licensed under the REA Act 2008

View profile