Freemans Bay backpackers and strong cashflow

65, Wellington Street, Freemans Bay, Auckland City

Tender

Proposed Usage
Industrial
Floor Area
546.00 m²
Description:
Property ID
1c4xb9s

• 546sqm freehold site in Freemans Bay
• Central city residential dwelling converted into backpackers accommodation
• $175,000pa net income (approximately) last 12 months
• Zoned Terrace House and Apartment Building (THAB)
• Close proximity to Ponsonby, Karangahape Road, and transport routes

This freehold, 546sqm central Freemans Bay site offers strong options for investors,
developers and owner operators. A converted residential property operating as
backpackers accommodation for over 15 years.

Current net income of $175,000pa (approximately) delivers robust cashflow with
potential for increased income from the established business. The Auckland
accommodation market is undersupplied and the property is well positioned in the
closely held Auckland suburb of Freemans Bay.

The property is zoned Terrace House & Apartment Building, providing for the
greatest density, height and scale of development of all the residential zones
stipulated by the Auckland Council.

For further information please contact one of the listing agents:

Stuart Bode
027 493 6223
stuart.bode@bayleys.co.nz

Mike Bradshaw
021 244 2264
mike.bradshaw@bayleys.co.nz

Enquire about this property

Freemans Bay Area