11 Karaka Street, Eden Terrace, Auckland City, Auckland

Don't Miss Out - Development Opportunity - Two Freehold Titles

11 and 13 Karaka Street, Eden Terrace, Auckland, CBD

We are offering two properties For Sale (side by side) total land area 552 sqm

The price is expressed as Buyer Enquiry Over:

$1,550,000 for # 11 is bare land of 274 sqm

and

$1,995,000 for # 13 includes a building which has been used as a hostel in the past, the building is now vacant and potentially could easily be demolished, (or refurbished) the land is 278 sqm.

Both properties are to be sold together so the combined price for both +$3,545000 ono

Vendors disclosure that there is a 150mm easement for a right of way between 13 and the neighbouring building 15 to provide fire escape steps which must remain with any development plans you might have.

With the two sites sold together your options are with council consent to renovate and rebuild the hostel or create and develop with new buildings with a mix of residential or commercial.

Another development opportunity possible to explore is that the vendor has concept plans available for 60 apartments with 27 car parks or a hotel with the extended height limit of 32.5metres in this Mixed-Use zone.

Summary:

• The vendor is now living overseas and wants these two properties sold
• Two freehold titles totalling 552sqm
• Concept plans for 60 apartments with 27 car parks
• Below road contour which potentially could save on excavation costs
• We are informed that a 32.5 metre extended height limited under Newton Height Variation Control in the Unitary Plan with Mixed Use Zoning

Please give me a call to arrange an appointment to meet, view and discuss in more detail

Contact: Stephen Hudson 0274 746 774 Executive Salesperson REA Licensed & MREINZ

New Zealand Property Limited Licensed REAA 2008