Exceptional George Street Opportunity with Proven Versatility
• Strategic Land Holding: 597sqm of freehold land, fully fenced with four on-site parking spaces.
• Substantial Character Build: Expansive two-storey residence covering over 464sqm.
• High-Capacity Layout: Comprising 20 rooms, including seven ensuite options.
• Consented Growth: Land use consent is in place for residential activity for 20 habitable rooms.
• Safety & Compliance: Fully equipped with a modern security system, smoke alarms, and a comprehensive sprinkler system.
• Prime Location: Just 400m to Dunedin’s CBD and the University of Otago.
The Opportunity
Presenting a compelling opportunity to acquire both land and building in the sought-after Inner City Residential zone. Currently operating as a professionally managed boarding house (formerly the well-known “Kiwis Nest Backpackers”), the property’s future is limited only by your imagination.
Whether you choose to continue its current use, revert to a high-end hostel, or utilise the existing land use consent to transform the space into contemporary inner-city residential apartments, the bones of this character residence provide the perfect canvas.
Why Invest?
Investors seeking significant upside and versatility will recognise the rarity of a property this size in such a central location. This is an extraordinary chance to secure a charming, income-generating multi-unit investment in the heart of Dunedin.
Call today to schedule a private viewing and explore the full potential of this George Street gem!
