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Te Puke

69 Moehau Street, Te Puke, Te Puke

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2,657sqm Floor area
12,761sqm Land area SQM

For Sale by Negotiation

Aged care sector - 30 year triple net lease


• 30 year triple net lease commenced 31st March 2022
• Rights of renewal totalling 60 years expiring in 2112
• Annual rental growth linked to CPI and capped at 4%
• Secure long-term cash flow with significant depreciation benefits

Carter House Lifecare provides full rest home care services located in the thriving provincial township of Te Puke, approximately 25km's southeast of Tauranga. This 65 bed facility is leased to Heritage Lifecare Villages Limited, one of New Zealand's leading and largest aged care providers.
The triple net lease structure is vastly superior to the majority of standard commercial leases having the huge advantage of the landlord being insulated from all costs and maintenance of the property. This is the ultimate landlord-friendly form of lease that allows for a completely hands-off investment.
Institutional assets of this calibre, underpinned by high levels of government funding, must appeal to astute investors seeking a premium investment positioned in a sought-after healthcare sector experiencing strong and increasing pressure from New Zealand's rapidly ageing population.

For more information, please contact below
Brendon Bradley
+64 21 816 600
brendon.bradley@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

Brendon Bradley

Brendon Bradley

Commercial Sales and Leasing

Success Realty Ltd, Bayleys,
Licensed under the REA Act 2008
Mike Houlker

Mike Houlker

Commercial, Industrial and Syndication Manager

Bayleys Real Estate Ltd, Auckland Central,
Licensed under the REA Act 2008
Sunil Bhana

Sunil Bhana

Director - Capital Markets Industrial and Logistics

Bayleys Real Estate Ltd, South Auckland,
Licensed under the REA Act 2008

Features

Location


The close proximity of Te Puke to Tauranga provides a captive retirement location that benefits from the continuing ageing of the surrounding catchment, with ongoing demand for aged care facilities

Opportunity


Sought after institutional-grade investment opportunity within the niche healthcare real estate sector that delivers significant depreciation benefits for the landlord

Anchor tenants


Strategic and defensive income-producing aged care asset with strong tenant covenant from Heritage Lifecare Villages Limited who have a proven management track record

Lease


30 year triple net lease commenced 31st March 2022 with rights of renewal totalling a further 60 years and final expiry in 2112, making this an extremely solid investment.

Have your questions answered

Our agents are experts on all things in the property market, if you haven't found what you're looking for, please enquire with the listing agent now to have all of your property questions answered.

Request more information

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