11 and 15 Karina Terrace, Roslyn, Palmerston North

Affordable healthcare investment - 30 year lease

• 30 year lease term from March 2022 plus rights of renewal until 2112
• Triple net lease with annual CPI reviews capped at 4%
• Long-term cashflow security
• A fabulous affordable investment opportunity

Karina Lifecare comprises a 37 licensed bed aged care facility forming in part, two residential conversions connected via a central purpose-built aged care facility.
The facility is situated on an elevated site of 3,485sqm (more or less) of residential land approximately 3km's from the CBD, and is tenanted by Heritage Lifecare Limited with a 30 year triple net lease. With the further rights of renewal terms of 20 years each, this extends the potential lease term to 90 years. The tenant is one of New Zealand's leading and largest aged care operators and benefits from high levels of government funding. The sector is also seeing strong and increasing demand with New Zealand's rapidly ageing population.
This investment offers long-term cash flow security and represents a superb handsoff investment.
For more information, please contact below
Karl Cameron
+64 21 428 092
karl.cameron@bayleys.co.nz

Mike Houlker
+64 21 945 927
mike.houlker@bayleys.co.nz

Sunil Bhana
+64 21 938 660
sunil.bhana@bayleys.co.nz