INVESTOR ALERT!! KELBURN OPPORTUNITY

Sold - Kelburn Wellington

BEO $1,395,000

BIG GAME CHANGERS NOW IN PLAY FOR THIS SITE

2024 District Plan regulation changes are massive for what they now mean for the development potential of 64 Kelburn Parade. Now zoned High Density Residential Zone, and being within the identified City Centre Zone walkable catchment it now has an increased maximum height standard of 22 metres.”

PLUS – the latest changes to the Bright-line Test criteria and interest tax deductibility also make a big difference for investors.

These changes make 64 Kelburn Parade an absolute MUST SEE for astute developers / property investors.

This 1900s “Student Flat” is perfectly located directly across the street from the Victoria University Kelburn campus, and loads of extra land to expand, or re-develop. Rental appraisal puts income at $1,600-$1,800 / week. Currently on fixed term lease at $1,500 / week (expires Feb 11, 2025).

The vendors have consent-able “Bulk and Location for Development ” plans available that show options to add two 3 bedroom houses to the front section, or demolish the existing dwelling and build three 3 bedroom free standing houses. But this is NOW ONLY A STARTING POINT, as the height envelope has DOUBLED.

Property Values:
1900’s 2 storey villa – 180 sqm. 6 bedroom / 2 bathroom. 422 sqm section. Immediate proximity to Victoria University Kelburn campus. Also includes garage and car park on road reserve.

Talking points:
• district plan zoning as high density residential and 22m maximum height allowance
• bright-line test and interest tax deductibility changes
• great student accommodation option as is
• proximity to university
• excellent development options / potential
• 422 sqm section
• value for money (RV $1,970,000)

AVAILABLE FOR IMMEDIATE PURCHASE

Call now for Info Pack, and to arrange a viewing.

Contact:
John Kettle
MB: 027 443 1355 / EM: [email protected]