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42 Forbury Road, Forbury, Dunedin City

By Negotiation

6

4

2

490m²

2,031m²

'The Castle' - Rare Dunedin Opportunity

Commanding one of Dunedin's most recognisable vantage points, 'The Castle' stands proudly on the hill, overlooking the city and harbour from an expansive 2031m2 (+/-) site. Originally built in the early 1910s as a grand private residence, this iconic landmark was later converted in 1947 into four substantial flats - two two-bedroom and two one-bedroom units, all currently rented for a total of $1,475 per week (with electricity paid by the owner for units 1 and 4), with a nett income of $72,403 per year.

A fine example of enduring craftsmanship, the property showcases ornate original features that speak to its era, with high ceilings, timber detailing, and generous proportions throughout. The interiors have benefited from upgrades to paint, carpet, and heat pumps, bringing comfort and practicality while preserving the home's character. Each flat enjoys outstanding natural light and sweeping views that capture Dunedin's charm from every angle. Set on a rare landholding, the 2031m2 (+/-), includes a large garage and a well-maintained rear section with potential for development or subdivision (subject to council consent). For the discerning investor, there's scope to further elevate the property - whether through sympathetic restoration, strategic enhancement, or exploring the underlying land value.

Historic, handsome, and holding promise, 'The Castle' is more than a property, it's a statement piece in the heart of Dunedin's landscape, waiting for its next visionary custodian.

Additional details

Type

House

Property ID

L37422057

Listed on

06/11/2025

Updated

24/11/2025

Property insights

OneRoof estimateRating valuationEstimate over timeProperty history

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OneRoof mentions

Listed for sale on OneRoof for 31 days (last updated on 6 November) and was last sold in 2016 for $625,000. OneRoof now estimates this property to be $1,020,000 and its latest rating valuation by Dunedin City council is $1,100,000 as of 2025. There are 2 6-bedroom properties for sale nearby. There are 8 properties for sale in Forbury.

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Asking Price $875,000

58A Forbury Road, Forbury

6

2

Property data

Broadband available

Floor area

490m²

Land area

2,031m²

Type of title

Freehold

About the area

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Time (yrs)

5 yrs

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Forbury, Dunedin City

Forbury is a suburb which lies within the Territorial Authority of Dunedin, one of 97 residential suburbs which form the wider region. Forbury is the 43rd largest suburb of Dunedin in terms of the total number of residential housing stock. Forbury provides a range of housing stock, with the earliest residential housing recorded in the area constructed between 1880 - 1889. The majority of the residential housing stock in the locality was constructed between 1910 - 1919. Residential housing stock in Forbury is made up of approximately 96% residential housing and 4% residential investment housing properties.

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