A well-known Papatoetoe landmark, 185 St George Street is up for sale via auction.
Built in 1935, the building is one of the oldest in the Papatoetoe area, with a heritage listed tree at the front of the property.
The 12-bedroom, 12-bathroom, property has been used as a boarding house for more than a decade, consistently operating at 90 ”per cent occupancy.
Ray White Manukau listing agent Levani Lum-On said the location and the large 1649sqm site would be attractive to a range of buyers.
“It’s in a real central part of Papatoetoe, half way between Manukau City and Hunters Plaza,” Mr Lum-On said.
“What will appeal to long term investors, land bankers and developers is the nice corner block with expansive road frontage.
“There is significant development potential however the attraction for land bankers or investment syndicates is the large holding income.”
The vendors bought the property in 2007 and Mr Lum-On said they were motivated to sell.
“They are hoping to capitalise on the current market and move on with other plans,” he said.
The property will be auctioned online at 2pm on October 19.