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117 Rea Road RD 2, Katikati, Western Bay Of Plenty

By negotiation

3.79ha

Hostel or RSE accommodation or big families!

A great opportunity here. There are already 3 homes on this property that at present have a total of 11 bedrooms with an opportunity for another 7 to be completed.

The top floor of the 3 – 5-bedroom units that covers 357sqm’s, was set up with power, water and toilet wall plates but the internal construction was never completed. i.e. internal walls and ceilings etc. prior to being issued with a Code of Compliance that was signed off in 2002.

The original 2002 plans also show the top floor as having been approved for 7 bedrooms and maybe 2–3-bathroom facilities that are already plumbed in. Those seven rooms need completing and will support 10 or more boarders or tenants.

All three homes are in great condition and are compliant with the two units receiving a CCC during 2002.

It has great potential for buyers wanting to finish the internal construction and earn a great income for years to come. The returns could be great.

The property also has a total of 3.7850 hectares and includes 1.82 hectares of Avocados.

In the past this property was a part of Fantail Lodge, a nationally and internationally recognised lodge and the two units were set up for guests attending functions.

The property is approximately 4 kms from Katikati, 30kms from Tauranga and about 1hr 45mns to Auckland airport.

See this listing on Barfoot & Thompson

Additional details

Type

Lifestyle Property

Property ID

891767

Listed on

06/06/2024

Updated

3 days ago

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Katikati, Western Bay Of Plenty

Katikati is a suburb which lies within the Territorial Authority of Bay Of Plenty, one of 40 residential suburbs which form the wider region. Katikati is the 2nd largest suburb of Bay Of Plenty in terms of the total number of residential housing stock. Katikati provides a range of housing stock, with the earliest residential housing recorded in the area constructed between 1900 - 1909. The majority of the residential housing stock in the locality was constructed between 2000 - 2009. Residential housing stock in Katikati is made up of approximately 93% residential housing , 2% residential investment housing and 5% lifestyle properties.

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