107 & 109 Russell Street, City Centre, Dunedin, Otago

Price Guide - 107 Russell Street; Enquiries over $599,000 - 109 Russell Street; Enquiries over $279,000 (section only)

A rare opportunity exists in this central Dunedin location to purchase one or both of these 506sqm titles, offering immediate lifestyle appeal along with significant future development potential.

Positioned on 107 Russell Street, the existing dwelling is a modern three-bedroom, two-bathroom apartment-style home, completely rebuilt in 2018 to provide comfortable contemporary living. The home is fully double glazed and well insulated, ensuring year-round warmth and efficiency.

The generous open-plan living area forms the heart of the home, enhanced by a character coal range that adds warmth and atmosphere. From here, the home opens out to the partially covered front deck providing an additional sheltered space to relax or entertain.

A clever mezzanine storage level, accessed via a pull-down ladder, offers excellent additional storage or space for occasional guests.

The galley-style kitchen is practical and well positioned, overlooking the living space. The main bathroom includes a shower, vanity and integrated laundry, complemented by a separate toilet for convenience.

There are three double bedrooms, two with built-in wardrobes. The main bedroom, located up a small flight of stairs, features its own ensuite and double doors opening directly to the fully enclosed and sun-soaked private courtyard.

Next door, 109 Russell Street provides a second 506sqm (+/-) title, creating exciting possibilities for the future. Purchasing both sites unlocks substantial development potential, with planning indicating the possibility of multi-bedroom accommodation - potentially up to 11 bedrooms per site (subject to council consent).

The current tenancy is fixed until 15 January 2027, providing secure holding income, while also offering an excellent opportunity to secure the property now for future family use when attending Otago University or Otago Polytechnic.

Conveniently positioned within comfortable walking distance of Dunedin's city centre and the new hospital, the location further enhances both the lifestyle and investment appeal.

Whether you choose to purchase one property as a city home or investment, or secure both titles to maximise development opportunities, this is a compelling offering in a highly convenient central Dunedin location.

DEADLINE SALE (no prior offers considered) closing at 2pm Thursday 9 April 2026 at 12 Wharf Street, Dunedin