110-112 Canongate, City Centre, Dunedin, Otago

110-112 Canongate presents a large investment opportunity within the vibrant Central Dunedin suburb, near to the CBD. This impressive freehold block of units spans across 1,162 square metres, comprising two separated buildings with a total of six 2-bedroom, 2-bathroom units, each accompanied by its own garage space.

Constructed in 1995, these modern-era units offer a warm and inviting living space yet remain in their original condition, presenting the perfect canvas for a visionary investor to refurbish and realise significant value uplift. Current underlet tenancies signal the chance to optimise rental yields to market levels and potentially enhance further with planned renovations.

For the astute developers, this property boasts a generous allowance for up to 25 bedrooms under the current zoning regulations, without the constraints of heritage restrictions, paving the way for expansive redevelopment and enhancement potential if desired.

With six dedicated parking spaces and the scope for substantial value-adding renovations, 110-112 Canongate is tailor-made for an investor poised to capitalise on a project of sizeable scale. Seize the opportunity to transform and reinvigorate this centrally located property into a premium residential offering in the thriving Dunedin market.

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Please contact me for a further discussion or to arrange a viewing appointment once the information has been reviewed.