69 Moehau Street, Te Puke, Te Puke

Aged care sector - 30 year triple net lease

• 30 year triple net lease commenced 31st March 2022
• Rights of renewal totalling 60 years expiring in 2112
• Annual rental growth linked to CPI and capped at 4%
• Secure long-term cash flow with significant depreciation benefits

Carter House Lifecare provides full rest home care services located in the thriving provincial township of Te Puke, approximately 25km's southeast of Tauranga. This 65 bed facility is leased to Heritage Lifecare Villages Limited, one of New Zealand's leading and largest aged care providers.
The triple net lease structure is vastly superior to the majority of standard commercial leases having the huge advantage of the landlord being insulated from all costs and maintenance of the property. This is the ultimate landlord-friendly form of lease that allows for a completely hands-off investment.
Institutional assets of this calibre, underpinned by high levels of government funding, must appeal to astute investors seeking a premium investment positioned in a sought-after healthcare sector experiencing strong and increasing pressure from New Zealand's rapidly ageing population.

For more information, please contact below
Brendon Bradley
+64 21 816 600
brendon.bradley@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