This is a very unique land investment opportunity with the long term rental income from a large elderly hospital and rest home facility with the future potential for development / capital gain of this huge corner 3,231m² corner site within a stone's throw of the CBD Tauranga. The very substantial buildings have been well maintained and have an A-Grade seismic rating for real peace of mind. These buildings are leased on a long-term basis to a very experienced operator who has managed facilities like this for decades.

There is also the option under the terms of the lease to redevelop the whole property much earlier. Such a large strategic land holding rarely comes available especially with such strong positive cash returns but also allowing the option to realise it's true development value in the near future.

Features:

• Land area: 3,231m
• Net rental: $474,000 + GST & Outgoings p.a
• New 7 + 7 year lease
• Very experienced operator/tenant
• Unique elderly hospital and rest home
• Suitable for high future density residential and offices
• Adjoining sites also available
• A-Grade seismic rating
• Re-development allowed under lease
• For Sale Price By Negotiation

More information: https://www.colliers.co.nz/p-NZL67000981