Property ID: QBS12740 Listed by Hadley
Our instructions are crystal clear - this property MUST BE SOLD with our out-of-town investor client committed to divesting this asset at Auction.
Situated above Frankton Road enjoying panoramic lake and mountain views, we offer to the market a unique opportunity for the savvy investor to purchase this seven bedroom, three bathroom home situated on a 1,085 sq m (more or less) freehold section.
Currently rented on a fixed term tenancy for $950 per week, this property provides excellent cash flow with upside to be had when the Queenstown long term rental market returns to what it once was.
Think land bank and rental investment in the short term. Your long term plans will likely be to renovate or to redevelop. A building consent has been granted for the addition of three further bedrooms on the basement level, which gives the next owner the option to further develop this cash producing asset. A Planning Report is available which clearly outlines the development potential of the land.
With excellent proximity to both Frankton and Queenstown, it is likely that this property will continue to attract tenants in any market.
The Vendor has supplied a Land Information Memorandum Report, Build Report and Healthy Homes Report which will provide the new owner with a clear pathway to gain compliance under The Residential Tenancies Act 1986 and accordingly, will be sold on an 'as is, where is' basis.
Your options are many, but our clients have only one - to sell on or before Auction day. To ensure that you are in control of all future decision making, we encourage your immediate enquiry.
Auction to be held at New Zealand Sotheby's International Realty Queenstown Office at 12:30 p.m. Wednesday, 01 December 2021 (unless sold prior).
Dave Fea - Queenstown Real Estate Agent | +64 27 444 1104 | email@example.com
Melanie Rogers - Queenstown Real Estate Agent | +64 27 442 3932 | firstname.lastname@example.org
Queenstown Real Estate .co.nz | PO Box 583 Queenstown New Zealand
New Zealand Sotheby's International Realty. Browns Real Estate Limited (Licensed under the REAA 2008) MREINZ