Land Bank or Develop

Fantastic opportunity to acquire this great piece of land (1296 m2) adjoining the Warehouse in Central New Lynn. Recent changes to the District Scheme allow for multi-level apartment development. The existing owners have a proposed plan for four apartment blocks providing 24 one and two bedroom units with parking. With the current sales success of the nearby 10 storey accommodation tower canny investors will see an immediate opportunity to seize this prime piece of real estate. Currently housing 2 two bedroom units and a three bedroom house the property has an immediate return of $850 per week, ensuring a great opportunity to secure now and still command a return while development planning takes place. All this, right next door to the Warehouse and an easy walk to the new thriving café district, Lynnmall and the train station. Prospects like this are very rare so don't delay, consider this today.