Apartment development suggested

A vacant building in Rattray St is being pitched as a site for new apartments in Dunedin's city...
A vacant building in Rattray St is being pitched as a site for new apartments in Dunedin's city centre. PHOTO: PETER MCINTOSH
The sale of a Dunedin industrial heritage building in Rattray St could add to the urban renewal under way in the inner city.

The former furniture workshop building at the corner of Rattray and Dowling Sts is on the market as a potential residential development.

Colliers residential investment broker Matt Morton said the owners had asked to remain anonymous, but said they were hopeful an apartment concept for the site they started would be pursued by the new owner.

There was no resource consent for the project, but there were conceptual plans for four apartments in the brick building.

There were further concept plans for another eight apartments on the neighbouring land.

The idea had been pursued by the present owner until a "change in personal circumstances" led to the decision to sell, Mr Morton said.

The 1906 building’s facades facing Rattray and Dowling Sts were protected.

Although the real estate market had softened, there was still a lot of development around the city, Mr Morton said.

A former furniture workshop in Rattray St is being suggested as another site for new apartments...
A former furniture workshop in Rattray St is being suggested as another site for new apartments in Dunedin's city centre. PHOTO: SUPPLIED
Developers were keen to build in the inner city for those who wanted to live within walking distance of work and shops.

"It probably started five, six years ago," Mr Morton said.

"There’s been more confidence in that area and it’s all been quite successful developments.

"This is just an opportunity to keep adding to that.

The listing comes after the Dunedin City Council granted resource consent for a four-storey, mixed-use development in Rattray St just 200m away, next to the Crown Hotel.

"If that goes ahead, that helps the area; if our one goes ahead, that helps the area.

"That gives more confidence to more developers to then look more at what they can do around that area."

hamish.maclean@odt.co.nz

 

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