1,528sqm - Mixed Housing Suburban Zone

The vendor is motivated to sell.

Don't miss the golden opportunity to own this property with substantial land area of 1,528m2, zoned Mixed Housing Suburban Zone in central location of Papakura. The land use is "Special Accommodation". The building has a big floor area of 300m2, used as a boarding house with 10 rooms to rent out individually.

Current market $2,000 to $2,500 per week (utility bills included). The rental yield of this property is high. It is perfect for development. Whether you are looking for land bank or rent out for rental or wish to develop into a new residential development, the choice is yours.

You can choose to build another building at the back portion of the empty land to generate additional rental income or you can redevelop the whole piece of land into new residential development (subject to Council's approval). Previously, there was an approved plan to build a new 2 story building of 12 rooms at the back portion of the land but the consent of approved plan has now expired.

The location is super convenient, only a short distance to Papakura Train Station and Papakura Town Centre. Papakura Intermediate and Papakura High School is just around the corner.

Call Patrick Prak 021-1510606 or CT Wong 021-0539869 for more information.