Barfoot & Thompson Commercial are pleased to offer this unique holding, comprising the sub-lessor’s interests of the land encompassing the Scene 3 building and the Countdown Supermarket at Quay Park, Auckland CBD.
The offer comprises a ground rental margin of 2.5% on the apartments, being the difference between the rental payable to the head lessor at 5.0% of land value and that received from the sub-lessees at 5%, being the various unit owners for Scene 3 at 7.5%.
The property interests comprise 167 individual ground lease titles and each title comprises a ground lease for a fixed term of 150 years expiring 1 August 2146 with rent reviews at seven yearly intervals. The current net income is circa $1,097,250, providing a substantial ongoing cash flow.
• Net income circa $1,097,250 per annum
• 150-year lease term expiring 2146
• Seven-year rent reviews
• Unique investment with substantial ongoing cash surplus
• High yield on offer
• Call now for more details