25 Coles Crescent, Papakura, Papakura

New 10-year lease to rest home tenant

• Purpose-built 20 room rest home licensed for 21 residents
• Fee simple 1,320sqm (more or less) site zoned Residential - Mixed Housing Urban Zone
• New ten (10) year lease plus right of renewals
• Returning $110,000 plus GST and outgoings with CPI rental growth

An opportunity to secure a bottom drawer investment in the fast growing Papakura Town Centre.

Offering a 21 bed rest home with heat pumps and heaters in every room, two dining rooms, two lounges and a net lettable area of 625sqm (more or less), this purpose built aged-care facility benefits from a new long-term lease to an experienced operator.

Situated on a 1,320sqm (more or less) fee simple site, the property is located within walking distance to Papakura Town Centre, and is in close proximity to southern motorways.

The property is perfectly suited to passive investors looking for long term stability with future development potential.

Piyush Kumar
027 410 4750
piyush.kumar@bayleys.co.nz

Peter Migounoff
027 492 0788
peter.migounoff@bayleys.co.nz