North Dunedin
597 George Street, North Dunedin, Dunedin
+39
Exceptional George Street investment
• 597sqm of freehold land, fully fenced with four on-site parking spaces
• Expansive two-storey character residence covering over 464sqm
• Comprising 19 rooms, including seven ensuite options
• Equipped with security system, smoke alarms and sprinkler system
• 400m to Dunedin's CBD and the University of Otago
Presenting a compelling opportunity to acquire both the land and building, zoned Inner City Residential. Currently operating as a professionally managed boarding house, this property was formerly known as the “Kiwis Nest Backpackers.” It offers the potential for conversion back to a hostel or transformation into contemporary inner-city residential apartments. Buyers seeking an investment with significant upside and versatility will find this property of interest. Don't miss this extraordinary chance to secure a charming, income-generating multi-unit investment in one of Dunedin's most desirable and well positioned locations.
Call today to schedule a viewing!
Muir Gold
Otago Realty Group Ltd, Bayleys,
Licensed under the REA Act 2008
Rachel Jones
Otago Realty Group Ltd, Bayleys,
Licensed under the REA Act 2008
Features
Opportunity
Don't miss this remarkable chance to acquire an income-producing, multi-unit investment loaded with character and upside potential in one of Dunedin's most convenient areas.
Passing income
Existing 19+ room boarding house providing immediate holding income.
Character building
This extensively accommodating 1920's boarding house presents an outstanding investment proposition in a prime location, currently operated as a professionally-managed, fully-occupied rental property.
Location
With its ideal proximity to major amenities, this legacy property is perfectly positioned to provide housing for students, staff, professionals and more.
Land bank
Zoned for long-term growth with strong local demand and premium positioning
Add value
Versatile development potential: Backpackers, student accommodation, townhouses, apartments or a statement family home
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