8 Banff Street, Kensington, Whangārei

Deceased estate, multi-unit - must be sold

Deceased estate - must sell

For the first time in over eight decades, this unique multi-unit property is now offered for sale by the Executors of two-family Estates.

An unparalleled investment opportunity situated in the heart of a blue-chip inner-city suburb, this site has been developed in multiple stages over the years to incorporate a diverse assortment of tenancies, that has yielded consistently high occupancy rates.

• Currently returning $150,800 gross per annum*
• Ten individual tenancies, with nine tenanted*
• One x four-bedroom unit
• Three x one-bedroom flats*
• Six x two-bedroom units
• 680sqm total floor area
• A single freehold title comprising 4,224sqm (more or less)
• Zoned General Residential
• All units Healthy Homes Act compliant
• Opportunity to further develop and add value

Centrally located, it's incredibly popular with tenants due to its proximity to Whangarei CBD, Kensington Crossing shopping centre and Health Hubs, and the stunning Mair and Deveron Parks.

With clear instructions from the Executors of the Estate that this must be sold, this is a prime opportunity for savvy investors seeking a property with immense potential and diverse income streams, or for developers ready to embark on their next project.

A comprehensive information pack is available on request. Contact Karl Leathley to register your interest without delay.


* The addition of a further one-bedroom flat has just been completed by the Estate. This is currently vacant, but expected to be tenanted soon.