Whangarei Central
202-204 and 214-216 Kamo Road, Whangarei Central, Whangarei
+9
30-year triple net lease - healthcare
• 30-year triple net lease commenced 31st March 2022
• Rights of renewal totaling 60 years expiring in 2112
• Annual rental growth linked to CPI and capped at 4%
• Future-proofed approximately 2,795sqm of development land for expansion
Puriri Court Lifecare comprises a 74-room care facility, currently providing full rest home, respite and medical services located on the urban fringe of Whangarei City, approximately 4km of the city centre. The property is leased to Heritage Lifecare Limited, one of the largest aged care providers in New Zealand.
Underpinned by high levels of government funding and increasing demand from New Zealand's rapidly ageing population, this asset will appeal to astute investors seeking a premium, hands-off investment positioned in the sought-after healthcare sector experiencing strong growth.
For more information, please contact below:
Henry Napier
+64 21 024 64785
henry.napier@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
Henry Napier
Mackys Real Estate Ltd, Bayleys,
Licensed under the REA Act 2008
Mike Houlker
Bayleys Real Estate Ltd, Auckland Central,
Licensed under the REA Act 2008
Sunil Bhana
Bayleys Real Estate Ltd, South Auckland,
Licensed under the REA Act 2008
Features
Anchor tenants
Strategic and defensive income producing aged care asset with a strong tenant covenant and long-term lease security.
Opportunity
Sought after institutional grade investment opportunity within the healthcare real estate sector that is a totally passive performer with a proven tenant and track record.
Lease
30-year triple net lease commenced 31st March 2022 with rights of renewal totaling a further 60 years and final expiry in 2112, making this an extremely stable investment.
Growth
Annual rental growth built in linked to CPI offsetting inflation pressure, subject to a 4% per annum cap (minimum 1% increase) providing the security of a long-term WALT and lucrative cash flow.
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