76 London Street presents a rare opportunity to secure a substantial inner-city landholding with holding income and significant future development potential (subject to council consent). Set on a generous 743sqm site, this is a property that combines immediate returns with long-term upside in one of Dunedin’s most tightly held locations.
The existing dwelling spans approximately 260sqm, offering a six-bedroom, two-bathroom layout well-suited to student accommodation. A large reception foyer creates a strong first impression, leading through to a spacious living room and well-proportioned kitchen and dining area that flows effortlessly outdoors. The lower level also includes one bedroom, bathroom, and separate laundry, while upstairs comprises five additional bedrooms and a second bathroom.
Positioned to capture elevated views across the CBD and harbour toward the peninsula, the property enjoys both outlook and convenience. Off-street parking for two vehicles adds further practicality in this central location.
Currently rented at $1,194 per week until the end of 2026 (approx. $62,000 per annum), the property provides a solid holding income while future plans are considered.
Zoned Inner City Residential, this site offers compelling redevelopment possibilities. With a land area of 743sqm, there is scope to remove the existing dwelling and unlock the full potential of the site. Under current rules, the property permits development of up to 16 bedrooms, with the potential to achieve up to 24 habitable rooms at maximum density, subject to DCC planning approval and consents.
Located within walking distance to Meridian Mall, Dunedin Hospital, the University of Otago, and Otago Polytechnic, the property is underpinned by strong tenant demand and enduring land value.
Whether you’re looking to landbank with income, add value, or pursue a higher-density development, 76 London Street is a strategic acquisition offering scale, location, and genuine future potential.
Public Download Link: https://www.ganeshrout.co.nz/current-listings/76-london-street-dunedin-central-dunedin
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