Here's a great investment into an 8 townhouse development in an area of Southern New Zealand that continues to grow well due to very good employment opportunities and active migration into the area from the North.
A lot of new development is taking place in Invercargill to update the old housing currently available and to fulfill the demand from those migrating there to work in the agricultural, fishing, mining, education or smelting industries that are requiring more personnel to work in the ever expanding industries.
The nationwide Dairy boom is in full swing in Invercargill, where farms were substantially cheaper than up north. This has caused the Dairy company Fontera to build 2 new dairy processing plants in the region. This is just one aspect providing good growth for the area, and hence housing demand.
The city of Invercargill, with a population of 50,000 is located in Southland, and is the gateway to some of New Zealands most beautiful scenery and destinations including the Southland heartland, Stewart Island and Fiordland. With a combination of cultural attractions, excellent shopping, cafes, restaurants and city life, Invercargill has much to offer. The inner city is modern, attractive and provides a vibrant heart to the city. The variety and number of heritage buildings in the city centre also add to Invercargill's character.
For sale is an eight townhouse development including all permitted plans and consent. Building consent fees paid, quotations available from local builder and marketing appraisal for completed dwellings from local real estate agency. The site is flat and fully serviced, located nearby the main Invercargill public hospital.
| This property pays a 7% return on the Purchase Price of the land, for a period of 2 years, during the Subdivision and Build process. |
| After 2 years it is expected that the subdivision is complete and partially sold off to repay development costs, or buildings have been erected and will provide ongoing income. |
| Section Type: |
Residential |
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| Development Type: |
Residential Housing 8 Townhouses |
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| Development Size: |
Whole development for sale as 1 lot |
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| Address |
632 ELLES ROAD, INVERCARGILL |
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| Size: |
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| Price: $ |
290k+ GST (land only)
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| Valuation: |
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| Profit Potential |
Estimates Only |
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| Finished Sale Price |
8 x $290k net
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$ 2.3 mil |
| Selling Costs |
Agent fees, lawyers etc (total 5%) |
$ 100k |
| Initial purchase price |
Land, plans and consents |
$ 290k |
| Development costs |
$ 150k per house - build cost
finance 2 years ($1.5 mil @ 9%) |
$ 1.2 mil
$ 270k |
| Management |
Northcorp can manage your project |
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| |
Estimated Profit |
$ 450k |
BBX and Barter dollars also accepted
| Contact Details |
|
| Name |
Daryo or Peter |
| Company |
Darius Group |
| Phone - Landline |
+64 9 447 1641 |
| Phone - Mobile |
Daryo +64 27 524 1931 Peter +64 274 711191 |
| Fax |
+64 9 447 1642 |
| Web Site |
www.dariusrealestate.com |
Note: email addresses available by placing an "enquiry" (top right of menu)
