Raine & Horne- Thames
Real Estate Agents
- Listing #:
- L39780312
- Listed:
- 14 days ago
Asking $520,000
Prime Commercial Site - Renovate, Redevelop or Reimagine
207 Richmond Street, Thames, ThamesResidential House
-
- 3 Bedrooms
-
- 1 Bathroom
-
- 2 Toilets
-
- 1 Car Garage
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- 2 Offstreet Car Parks
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- 506m2 Land Area
About this property
Positioned on a highly visible Richmond Street corner, this early-1900s villa presents a compelling opportunity for buyers seeking a project, redevelopment site, or future commercial premises.The existing weatherboard home sits on a 506sqm (more or less) freehold site and retains the generous proportions typical of its era, with high ceilings and large rooms currently configured as three bedrooms, separate lounge and a spacious dining area. However, the property does require significant renovation and improvement, making it best suited to buyers comfortable with a substantial refurbishment - or those considering the longer-term potential of redeveloping the site altogether.
Currently tenanted at $560 per week until June 2027, the property provides holding income at approximately a 5.6% gross yield while plans are made for the future.
Zoned Commercial (Zone 8A), the site enjoys strong exposure thanks to its prominent corner position. A detached garage with toilet, along with generous off-street parking, further supports the potential for future business use.
Whether you're a renovator looking for your next project, an investor land-banking for the future, or a buyer seeking a well-positioned commercial site with income in place, this property offers flexibility and opportunity in a central Thames location.
Viewing by appointment only.
Please be aware that this information has been sourced from third parties. View our property information disclaimer here: raineandhorne.co.nz/property-disclaimer
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