51 Botanical Road, Tauranga Central, Tauranga & Surrounds

30-year triple net lease - Health Care

• Strong tenant covenant Heritage Lifecare Villages Limited
• Hands off investment with the security of long-term cash flow
• 30-year triple net lease commenced 31 March 2022
• Rights of renewal totalling 60 years expiring in 2112
• Annual rental growth linked to CPI and capped at 4%, and significant depreciation benefits

Hodgson House Lifecare comprises a medium scale aged care complex providing full rest home care and medical services located in the residential suburb of Tauranga South. The property is leased to Heritage Lifecare Villages Limited, one of New Zealand's leading and largest aged care providers.

A pending subdivision of the aged care facility from the adjoining retirement village will result in a land area of approximately 11,600sqm. This is estimated to include 2,196sqm of development land which will potentially benefit from a proposed rezoning of the area to high density residential in the near future.

Institutional assets of this calibre, underpinned by high levels of government funding, must appeal to astute investors seeking a premium investment positioned in the sought-after healthcare sector experiencing strong and increasing demand from New Zealand's rapidly ageing population.

Please contact the listing agents for further information,
Sunil Bhana
021 938 660
sunil.bhana@bayleys.co.nz

Brendon Bradley
021 816 600
brendon.bradley@bayleystauranga.co.nz

Mike Houlker
021 945 927
mike.houlker@bayleys.co.nz