This tidy inner-city commercial property presents a compelling opportunity for owner-occupiers, developers, and investors seeking future-focused value in a high-demand urban location.
The property comprises 506sqm of freehold land, improved by a well-maintained commercial building currently configured as two separate retail/warehouse spaces of approximately 247sqm each. The building is owner-occupied and utilised for storage/warehouse purposes, offering flexibility for immediate use, repositioning, or redevelopment.
Importantly, the Vendors have confirmed Council consent for a comprehensive redevelopment, significantly enhancing the site’s underlying value. The approved scheme provides for a new multi-level mixed-use development, comprising:
• Two ground-floor commercial retail units of approximately 63sqm and 90sqm, prominently fronting busy Eruera Street, benefiting from strong exposure, pedestrian activity, and passing traffic.
• In addition, sixteen residential studio apartments, two ground floor and fourteen on two upper levels, each approximately 30–34sqm, designed to meet strong demand for compact inner-city accommodation.
This consented development offers an attractive blend of commercial income at street level and residential density above, aligning with current urban intensification and mixed-use planning objectives. The configuration is well suited to investors seeking diversified income streams or developers looking to capitalise on an approved, ready-to-execute project in a proven inner-city location.
With freehold tenure, opportunity to generate existing holding income, motivated vendors and a clearly defined development pathway, this property represents a rare opportunity to secure a strategically positioned site with immediate utility and significant upside.
