Vendor instructs to sell well below valuation

NEW TEN YEAR LEASE AND A HIGHLY MOTIVATED VENDOR

• Ten self contained newly fitted studio apartments
• Well established secure long term tenant returning over $136,000 net pa
• Annual rent reviews applicable
• Substantial depreciation of fit out/chattels
• Potential future redevelopment opportunity with new unitary plan

The vendor has a huge dilemma. They have a recent registered valuation of this property, which has a secure ten year lease in place but have found a new project that has been defined and one that they are keen to proceed with but cannot purchased without selling this property. The Vendors instructions are to sell this property at well below the registered valuation to achieve a quick result, cut their losses and move on to this next project. Buyers need to act with all due haste otherwise they will miss out on this opportunity. Interested parties need to physically go through this property to appreciate the high standard fit out in these 10 studio apartments as well as the future upside potential.

Neighbours include McDonalds, KFC, Wendys, Dominos, Countdown and the Counties Care Medical Centre. The property is situated close to the Town Centre of Papakura. Located just 1km to the Papakura train station and bus terminal.