40 Butts Road, Dunedin is a significant development proposition, providing flexible future development options, while having Resource Consent granted for a 53 unit student accommodation complex.
The approx. 5,314sqm site is nestled in close proximity to Dunedin's key tertiary institutions - both the University of Otago, and Otago Polytechnic - ensuring catchment of the student population, a large portion of the Dunedin population as a whole.
Student accommodation in Dunedin is generally of poor quality, and modern accommodation options are generally well sought after. Average rents continue to increase year-on-year, with modern options demanding the premium end of the tenant pool.
To further compliment the site is the unparalleled proximity to both Forsyth Barr Stadium, and the University of Otago Oval.
The existing Resource Consent unlocks significant value. The proposed student accommodation development provides for six individual buildings, offering 53 accommodation units (varying from 1 bedroom, through to 4 bedroom units).
Develop per the Consent, or stage as you see fit, or put your own touch on the site and design to your requirements (all subject to relevant consents).
For Sale at $2,195,000 plus GST (if any). Contact the nominated broker for more information.
