Te Puke
69 Moehau Street, Te Puke, Te Puke
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
Success Realty Ltd, Bayleys,
Licensed under the REA Act 2008
Mike Houlker
Bayleys Real Estate Ltd, Auckland Central,
Licensed under the REA Act 2008
Sunil Bhana
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.
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