Corner of Opportunity
Formerly used as a backpacker's hostel, and as travel restrictions ensued more recently as longer-term accommodation for local folk, this property will appeal to visionaries and entrepreneurs alike.
Strategically located on the corner of Stoneyhurst St and Bealey Ave in the central city, the iconic building packs a lot of punch for its compact site. Its status as a boarding house is licensed for 40 occupants with 12 accommodation rooms and three bathrooms; and a kitchen on both levels. A self-contained suite occupies a separate wing making it ideal for a live-in site manager. Also separated from the main dwelling is a recreation room which could be utilized as a training/classroom or converted back into a vehicle garage depending on the purchasers intended use. The configuration and versatility of space creates a myriad of options.
In 2016 the present owner undertook extensive renovations and upgrades which has brought the building up to 100%NBS and given it full BWOF and fire compliance status. While accommodation has been its primary use to date, it would also serve well for education, healthcare, or conversion into professional rooms. Development approval was previously granted for eight apartments with on-site parking.
A resurgence of post-quake activity, and commercial and residential development in the central city bodes well for those with the foresight to seize good opportunities in prime locations as they arise. This is your time! With the versatility of options for occupancy that this property offers the risks are mitigated and the benefits enhanced. Call the agents today for further information or to arrange your viewing appointment.
AGENTS ON SITE SATURDAY 21ST & SUNDAY 22ND JANUARY 2:45-3:30PM.
Auction: Thursday 23rd February @ 10am, 471 Papanui Road (unless sold prior).