Papakura, Auckland

Passive hold, develop or landbank, it stacks up either way. Resource Consent issued for 54 unit apartment development (recently lapsed).90% NBSReturning $260,000pa + opex + gst (equating to $231sqm including 15 car parks).2,185sqm of land across two fee simple titles.Business - Metropolitan Centre Zoning.Located in the heart of Papakura across the road from Countdown, next to McDonald's & a couple of hundred metres from Papakura Train Station. The property is a single level medical facility with a true stud height of 3.2m offering further options by repositioning the premise to a higher standard.The vendors applied for and were granted a mixed use 54 unit apartment development which recently lapsed in 2021. The granting of this consent combined with the Metropolitan Centre Zoning illustrates Auckland Council's intent for intensification in Papakura.The value has been added and the owners wishing to peruse other options. The timing to purchase is now with realistic vendors before the market starts to pick up.For sale by expressions of interest - contact the sole agents for further information