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New Plymouth, 6 Young Street

Land Bank in the City!

$1,750,000

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Listing Number: NP6748
About this listing
This iconic building facing the foreshore is, and always has been, a slice of prime real estate in the cultural and commercial centre of New Plymouth. History records show that in December 1876, Clarendon House opened on the site and operated for a number of years. Prior to the construction of the apartments, the Ship Hotel was located on this same site.

This quintessential apartment block on St Aubyn Street was built in several stages in the late 1930s and 1940s and now comprises nine units (mix of 1,2 and 3 bedroom units) and one two-bedroom, stand-alone townhouse, plus parking for 10 cars. The location alone ensures the property is easily kept fully tenanted.

The whole package is an attractive opportunity to land bank for further development while collecting a reasonable rental income in the meantime of approximately $144,000 per annum. There is huge scope here for investors and developers alike. After 19 years, the retired owners are now ready to sell. Rateable Value $1,960,000.

Price $1,750,000

Property Information
  • Land Size: 1401 sqm
  • Tenure: Freehold
  • Property Type: Block of units
  • House style: Other (Multi Unit)
  • Garaging / carparking: Double lock-up, Off street, Free standing
  • Construction: Concrete
  • Joinery: Timber, Aluminium
  • Roof: Iron
  • Laundry: Separate
  • Land contour: Flat
  • Water supply: Town supply
  • Sewerage: Mains

Contact Details

New Plymouth

Team Taranaki Ltd

Licensed REAA 2008

51 Devon St West
New Plymouth
Office website

Property Location

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