454 North Road, Normanby, Dunedin City
Buyers $1,500,000+
10
4
+10
+9
Two x 5 Bed Development-Newbuild Exemption Applies
This conversion of the famous Normanby Tavern consists of 2 recently completed 5 bedroom, 2 bathroom units providing a superior level of accommodation. The location of this development is ideal as Hospital rebuild worker accommodation or as Student rentals. This area is popular with senior students. A resource consent exists for a further 2 x 5 bedroom units that can be constructed on the carpark of the former Tavern. So up to 20 beds possible in the future. The existing 2 flats are tenanted for 2023 at $178 per room giving an income of $92,560 pa. A brochure providing more property information is available upon request. With a new CCC to be issued this property is tax deductibility exempt as a new build for 20 years. Talk to your accountant on just how this may affect you. "A property that received its code compliance certificate on or after 27 March 2020 will be eligible to deduct interest for up to 20 years from the time the property's code compliance certificate is issued. The exemption will apply to both the initial purchaser of the new build and any subsequent owner within the 20 year period."
Chattels
454 North Road, Normanby, Dunedin City
Web ID
DNU112055
Floor area
560m2
Land area
1,313m2
District rates
$4755.25pa
Regional rates
$455.04pa
LV
$350,000
RV
$620,000
10
4
Buyers $1,500,000+
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