Colliers New Zealand Limited and Bayleys in the North Commercial, as Joint Sole Agents, are pleased to present 93 Fourth Avenue, Woodhill, Whangārei for sale.
- Leased by North Health Limited on a 20-year term with renewal options extending to 2059
- Annual rent of $286,209.55 net p.a. + GST, with structured rental increases ensuring regular income growth
- A well-established rest home and hospital care facility with resource consent for expansion
The Hummingbird Hospital is a purpose-built facility providing hospital level palliative and long-term care for the elderly. It is a Fee Simple property on 2,630sqm land, zoned General Residential. It has resource consent to increase occupancy to 48 patients and staff to 40.
Tenanted by North Health Limited on a 20-year lease from 1 November 2009, returning $286,209.55 net p.a. + GST (from 1 May 2022). Rent is reviewed regularly with fixed increases, market adjustments, and ratchet clauses. With a final expiry in 2059, this asset provides an investor with the potential for long-term passive income in a sector supported by demographic trends and ongoing demand.
Astute investors will recognize the opportunity presented by a well-established tenant with a significant commitment to the property. Those seeking a better than average return should get in touch.
Contact the Joint Sole Agents below for more information:
Roger Seavill
Colliers
021 950 187
Nigel Ingham
Bayleys
021 562 919
Features:
- 1,033sqm of purpose-built rest home facility
- Regular fixed increases and market reviews
- Leased to North Health Limited on a 20-year term from 1 November 2009
- A well-established rest home and hospital care facility with resource consent for expansion
More information: https://www.colliers.co.nz/p-NZL67034061
