8A, 8B & 8C Richmond Street Whitiora, Hamilton City

Another great opportunity here for the Developer or Investor buyer looking to either land-bank for future development or start a project now. Tenants are happy to stay on as most of them have been in place between 3 - 5 years.

There are three cross-lease titles being auctioned together which covers approx 863m2 of prime land.

Zoning: The Residential Intensification Zone has a Visitor Facilities Area which recognizes the existing visitor accommodation around Ulster Street. This area includes the sites fronting Ulster Street, from Mill Street to Beetham Park, and provides for a high-density mix of visitor and permanent residential accommodation in the form of multi-unit and apartment developments.

The location is in an ideal spot which is a walk to FMG Waikato Stadium or a stroll into town and the vendors have never had an issue renting these properties out. Here is a breakdown of what each property is currently rented for:-

A, 4 bedroom, 1 bathroom currently vacant, previously getting $380 - (rental appraisal on request)
B, 2 bedroom, 1 bathroom currently getting $245pw - (rental appraisal on request)
C, 1 bedroom, 1 bathroom currently getting $185pw - (rental appraisal on request)
D, 1 bedroom, 1 bathroom currently getting $180pw - (rental appraisal on request)

These rents are on the conservative side, so we have updated rental appraisals for prospective purchasers upon request.

The vendors are cashing up after 14 plus years of ownership, so here is someone else's opportunity to get in and own this great piece of real-estate.

If you would like an information pack or a private viewing on this property, please contact Leon Mitchell on 027 389 4714 leon.mitchell@raywhite.com or his sales assistant Chane Lewis on 021 204 3133.

Check out our other investment properties on Facebook
leon.mitchell.raywhite

Auction will be held on Thursday 18th June 2020 at 12:30 pm in the Ray White Auction Rooms at 91 Victoria St, Hamilton. (unless sold prior) See rwhamilton.co.nz