Inner Town Development Opportunity

Description

Located in the Port Vila suburb of Namburu, this existing property is ideally suited for the property developer who has a keen eye for a bargain. The existing property consists of 8 studio apartments with enclosed verandah, toilet and shower. The property sits on an elevated block with views out towards Port Vila Bay and is positioned to capture cool tropical breezes and amazing sunsets. Several options exist with this property. Renovating, extending its foot print or a total knock down rebuild are achievable here. At a sizable 686m2, there is ample room to create your next development. The property sits on a corner block, making it ideal for a duplex style development requiring dual access. Alternatively, as an entry point investment, you can maintain the property as is and collect the existing rental income from the tenants. The property is being sold as is and includes the option to extend the lease and to re-zone to a Commercial Lease. The property is fully fenced, supplied by mains water and power and is central to all services and amenities. Vanuatu is poised for future growth. With the recent sea front redevelopment, Lapetasi Wharf completion, upgraded roads and the completed International Airport Runway upgrade and other projects underway, the infrastructure boom is on and the market has noticed. Now is the time to capitalize on this opportunity before it’s too late. Contact the Team at Lattitude Property: E: sam@lattitudeproperty.com / caroline@lattitudeproperty.com P: +678 7799252 / +678 7731 209