Affordable healthcare investment - 30 year lease
• 30 year lease term from March 2022 plus rights of renewal until 2112
• Triple net lease with annual CPI reviews capped at 4%
• Long-term cashflow security
• A fabulous affordable investment opportunity
Karina Lifecare comprises a 37 licensed bed aged care facility forming in part, two residential conversions connected via a central purpose-built aged care facility.
The facility is situated on an elevated site of 3,485sqm (more or less) of residential land approximately 3km's from the CBD, and is tenanted by Heritage Lifecare Limited with a 30 year triple net lease. With the further rights of renewal terms of 20 years each, this extends the potential lease term to 90 years. The tenant is one of New Zealand's leading and largest aged care operators and benefits from high levels of government funding. The sector is also seeing strong and increasing demand with New Zealand's rapidly ageing population.
This investment offers long-term cash flow security and represents a superb handsoff investment.
For more information, please contact below
Karl Cameron
+64 21 428 092
karl.cameron@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
• Triple net lease with annual CPI reviews capped at 4%
• Long-term cashflow security
• A fabulous affordable investment opportunity
Karina Lifecare comprises a 37 licensed bed aged care facility forming in part, two residential conversions connected via a central purpose-built aged care facility.
The facility is situated on an elevated site of 3,485sqm (more or less) of residential land approximately 3km's from the CBD, and is tenanted by Heritage Lifecare Limited with a 30 year triple net lease. With the further rights of renewal terms of 20 years each, this extends the potential lease term to 90 years. The tenant is one of New Zealand's leading and largest aged care operators and benefits from high levels of government funding. The sector is also seeing strong and increasing demand with New Zealand's rapidly ageing population.
This investment offers long-term cash flow security and represents a superb handsoff investment.
For more information, please contact below
Karl Cameron
+64 21 428 092
karl.cameron@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
Key features
Anchor tenants
Strategic and defensive income-producing aged care asset with strong tenant covenant and long-term lease security
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 stable investment
Location
Palmerston North is a desirable retirement location that benefits from the continuing ageing of the surrounding catchment with the ongoing demand for aged care facilities
