20A-20H Mayfair Street, Tauranga Central, Tauranga & Surrounds

Substantial Student Accommodation Opportunity

- Ideally suited to student accommodation with 38 bedrooms
- Eight well presented adjoining accommodation units
- Recently redecorated with new chattels and furniture
- Low maintenance construction with colorsteel cladding/roofing
- Site is positioned adjacent to inner Tauranga harbour

This is a superb opportunity to secure a substantial student accommodation complex comprising an attached block of eight units with 38 bedrooms situated on seven Stratum in Freehold Titles. Overall these provide a very good standard of student rental accommodation.

The property is presently professionally managed and leased to the University of Waikato providing strong tenant covenant with security of tenure and rental income. The units are rented on a per room basis that is overseen by a student accommodation representative who lives on site.

Astute investors will most certainly recognise this to be a very desirable medium to long term hold asset given the ongoing high demand for student rental property from the expected future growth of the tertiary education sector in Tauranga. This is a must to inspect!

Tenancy Details: Current annual gross rental of $365,560 / circa net rental $261,589. Full lease details available on request.