Rare Land Development Opportunity - Napier Hill
32, Main Street, Hospital Hill, Napier
Price On Application
- Proposed Usage
- Floor Area
- 1700.00 m²
- Land Area
- 30000.00 m²
- Property ID
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The Old Mill Napier is located on one of the few remaining large, developable landholdings in the Hospital Hill area.
Comprising 2.76ha of residential land with a function centre, four tenancies, a courtyard garden, large arena and an area of native bush, there is also an estimate 2.25ha of undeveloped land, including the arena, waiting to be unlocked for a new housing development.
This Napier Hill Character zoned land could potentially accommodate 18 residential lots averaging 1500m², or 30 semi-detached townhouses on a shared site. A new owner could develop the land while drawing on $22,500 net annual income from the function centre and $63,440 from the four residential tenancies.
There is also potential for an owner-occupier to run the function centre business themselves while exploring future development options.
Preliminary development surveys have been carried out, providing a range of options to explore.
To be sold by Tender closing 4pm, Thursday 28th November 2019 (not to be sold prior)