Barfoot & Thompson is proud to present a rare chance to secure two adjoining Freehold titles in a highly sought-after city fringe location, perfectly positioned between Remuera and Meadowbank. This offering is ideal for landmark development, high-value land acquisition, or long-term income-generating investment.
1A-C St Johns Road:
• Freehold land of 540m² with an existing building of 138m²
• Currently tenanted by three businesses, generating $62,000 + GST p.a.
• Rents have remained significantly below market rate for years, offering clear upside potential
• CV $2,350,000 as 1 May 2024
9 Lavender Court:
• Subdividable Freehold section of 500m²
• All services on-site and ready for development
• CV $1,850,000 as of 1 May 2024
Both properties are zoned Business Local Centre. With the Government’s newly introduced 20% income tax reduction for new commercial developments, this is an increasingly attractive proposition for developers seeking long-term financial benefits. The combination of strong location fundamentals, zoning flexibility, and government incentives makes this site a standout opportunity.
KEY FEATURES:
• Combined Freehold land area of 1,040m² across two titles (more or less)
• Established rental income of $62,000 + GST p.a. (from retail/street-front tenants)
• Favourable Business – Local Centre zoning for flexible development options
• On-site parking available
Opportunities of this scale and calibre on St Johns Road are extremely limited.
Contact the sole agents today to arrange a viewing or to request more information.
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