Strategically positioned on a prominent corner site in Glen Innes' Town Centre, 115 Line Road offers a rare add-value opportunity with significant development potential.
Occupying a 1,985sqm freehold site, this property offers immediate short-term income from four leases, including notable tenants, G.A.S Petrol Station and Eastern Auto Electrical. Developers will find significant potential here, as the site’s low coverage and Business-Town Centre zoning make it ideal for redevelopment and future projects. Additionally, there is a considerable opportunity for add-value investors to improve the rental terms and maximise their investment.
115 Line Road is conveniently accessible via Apirana Avenue, connecting to the surrounding suburbs of Mt. Wellington, Panmure, St Johns, and Saint Heliers. It’s also just a 250m walk from Glen Innes Train Station, which offers direct routes to Auckland CBD. The area has seen substantial growth due to initiatives like the AMETI project and Tamaki Regeneration Programme, transforming Glen Innes into a vibrant retail hub with ongoing and recent developments.
With options to suit both add-value investors and developers, this rare opportunity is available via Deadline Private Treaty with offers due 4pm Wednesday 16th October 2024 (unless sold prior).
Don't miss a chance to invest in a property with scalability like this - contact the sole agents today!
Features:
* 1,985sqm Freehold corner site with fantastic profile
* Flat section with low site coverage and huge underlying land value
* Indicative Market Income of circa $240,755 p.a. + GST with Passing rental of $182,947 p.a + GST
* Business - Town Centre Zone with a 32.5m build height overlay
* Significant growth location with multiple new developments completed or nearing completion
* Close proximity to Glen Innes Train Station, AMETI Urban Busway and key arterial routes such as Apirana Avenue
