Parnell Trophy Position
Property ID RMU24687The vendor has given us strict instructions to offer his development property to the market. DISREGARD ALL PRICE INDICATIONS. Comprising two solid and safe retail shops and rear land making a total of 336sqm (more or less). The proposed development is made up of six designer apartments and one retail space with 10 car parks. The architect is a well-known local designer.
Parnell has long been one of the most prestigious and tightly held suburbs in Auckland. This is because of its small size and it's close location to the city and waterfront. Not forgetting its views and elevation. The charm and sophistication of the Parnell Village including cafes, bars and restaurants make it a popular destination for visitors, internationally and domestically.
Resource consent was two years in the making and granted under the previous district plan permitting four storeys. This potentially could be one of the last four level apartment blocks to be built on Parnell Road.
Resource consent costs have already been paid by the vendor. There are currently two retail shops with one currently a hair salon earning 48K per annum and the other vacant but an easy rental.
Overall this is a significant landmark development, and with price growth anticipated in Parnell because of the addition of the train station, housing pressures and boutique hotels.
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