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Rare development opportunity available in Dunedin

MEDIA RELEASE

Rare development opportunity available in Dunedin

27 February 2008 – A rare parcel of Dunedin land with significant ‘greenfields’ development potential is now for sale by tender, with a wide range of buyer enquiry expected.

Being marketed by Robin Greer of Harcourts Dunedin, the 1.3 hectare property in Mornington, five minutes from Dunedin’s CBD, currently features three large buildings (including an original 1850s homestead) which are now all vacant but for 80 years housed the Montecillo Veterans Rest Home.

Mr Greer says the large, centrally located property at 79 Eglinton Road has potential for many future uses and is expected to attracted good interest. “It’s property offering a private park like setting on the town’s greenbelt and wonderful views of Dunedin City and the Otago coastline, plus significant potential for a greenfields development,” he says.

“The current owner already has concept plans for a residential development of 26 units, a retirement village could be one future use, the property could be turned into a large private estate or the current buildings could be used for a wide range of options. Alternatively, depending on resource consents, other large commercial or residential developments could be completed, or perhaps even a subdivision undertaken.

“Given the range of potential uses and the location we’re expecting interest locally and from further afield,”Mr Greer says.

The three main buildings on the site include ‘The Homestead’, which formerly housed the Montecillo Veterans Rest Home hospital, kitchen, dining room and occupants’ rooms; ‘The Rest Home Wing’ with around 30 rooms, plus a lounge and conservatory; and ‘The Recreation Hall’ which was formerly used for ceremonial purposes and activities. The exteriors of these buildings are in excellent condition and the kitchen and some bathrooms were upgraded a few years ago.

79 Eglinton Road is for sale by tender, with a deadline of 4pm on Wednesday 19 March. The adjoining property at 78 Eglinton Road is also available for purchase as part of the tender if desired. That property contains a three-bedroom house formerly occupied by the manager of the rest home. For more information visit www.harcourts.co.nz and enter ID # DU80206.

ENDS

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