A secure yield play underpinned by the premium tenant covenant of the Crown. Developed for Inland Revenue, the property is a substantial complex totalling 4,993sqm with 130 car parks. Inland Revenue has been in occupation since its completion and entered a new nine-year lease from 10 February 23.
The strong cashflow profile and Crown covenant is underpinned by a large site of 13,625sqm. There is positive opportunity for rental growth in 2 years with the offices leased at conservative rentals. Building has been strengthened.
If you're looking for a yield play, underpinned by a premium tenant on a long-term lease, this investment is going to be hard to beat!
To obtain copies of all supplementary documents please register your details at https://www.propertyfiles.co.nz/property/11_15JepsenGrove
• Inland Revenue new nine-year lease
• Substantial complex with Inland Revenue in occupation since construction
• Building 4,993sqm plus 130 car parks on large 13,625sqm site
• Net income $930,783pa - secure cashflow with rental upside