We are seeing 2-bedroom townhouse developments pop up everywhere, yet none have been built where they are most needed and will be the most lucrative - North Dunedin. The reason for this may very well be that land in this area is too expensive for the numbers to stack up but that certainly isn't the case in this instance.

There is a growing international student market ready and willing pay top dollar for high quality 2-bed/2-bathroom units close to University, but the supply just isn't there. The 908m2 site allows for up to 20 bedrooms to be developed subject too DCC consent. It is rented at $600 per week until the end of 2025 and rented for 2026 at $660 per week, returning $33,660 for the year. The rent basically covers the hold costs while you work on your development plan.

Currently there is a spacious 3-bedroom flat sitting on the property. Recently upgraded including new carpet, paint and some double glazing, there won't be any issues renting this property out for years to come should one decide to take a their time with the development or just land bank.

There may not be another opportunity to buy a site of this size, in a location as good as this in this price range. You'll kick yourself if you see someone else make money of this when it should've been you.