Available PropertyFiles:

/1. Information Memorandum/
- Jepsen Grove_Information Memorandum min.pdf
/10. NABERS/
- NABERSNZ-Certificate- Jepsen Grove.pdf
/2. Seismic/
- Seismic Review Letter - Clendon Burns & Park.pdf
/3. Lease Documents/
- 1. Deed of Lease - IRD.pdf
- 2. Deed of RR - 23 Dec 2020 - Fully Executed.pdf
- 3. Deed of Renewal - 2023 - IRD - Fully Executed.pdf
- 4. Deed of Rent Review - 2023 - IRD - Fully Executed.pdf
- 5. Agreement to Undertake Works, Surrender & Re-Grant Lease - IRD - Fully Executed.pdf
- 6. Deed of Lease - 2023 - IRD - Unsigned.pdf
/4. FY25 OPEX/
- Jepsen Grove - FY25 Draft OPEX Budget.pdf
/5. Insurance/
- 2023 COI - Jepsen Trustees Limited.pdf
- Jepsen_Grove_11-15_INS_0223.pdf
/6. Floorplan/
- Jepsen Gr - IR - Floorplan.pdf
/7. Landlord Works (Carpark & Lights)/
- 1. 3915 Contract_NZS.3915 Construction Contract.pdf
- 1. Contract_Annexure 0_2024.02.29-_Executed_Contract_Copy.pdf
- 1. Contract_Annexure A_401223_Project_Budget_-_Rev_J_-_14.02.24.pdf
- 1. Contract_Annexure B_Scope_of_Works_Rev_A_07.02.pdf
- 1. Contract_Annexure C 2023_COI_PI_Cert Catalyst_Consulting.pdf
- 1. Contract_Annexure C_2023_COI_GL_-Catalyst_Consulting_Ltd.pdf
- 1. Contract_Annexure C_Catalyst_Vehicle_Schedule.pdf
- 1. Contract_Annexure D_401223_High_Level_Programme_Rev_E_-_08.02.24.pdf
- 1. Contract_Annexure E - Engineer Design Set FINAL.pdf
- 1. Contract_Annexure F_Civil Construction Area.pdf
- 1. Contract_Annexure H_Electrical_works_markup.pdf
- 1. Contract_Annexure I_Council_Docs.pdf
- 1. Contract_Annexure J_Tenant_Fitout_Requirements.pdf
- 1. Contract_Annexure K_Carpark_SSSP_RevA.pdf
- 1. Contract_Annexure K_Mills_Albert_SSSP.pdf
- 3. Plans_Landlord Works - Proposed Site Plan.pdf
- 4. Programme_Landlord Works - High Level Programme.pdf
- 5. Resource Consent_Notice of Decision for Resource Consent Application.pdf
- =?UTF-8?Q?2=2E_Description_=2D_Project_Brief=5FLandlord_Works_=E2=80=93_Catalyst?= =?UTF-8?Q?_Consulting_=E2=80=93_Project_Brief=2Epdf?=
/8. Contractors/
- Jepsen Grove - Main Contractor List.pdf
/9. BWOF/
- BWOF Compliance Certificate.pdf

Property Description

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 approximately $250psm gross.

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!

• 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

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Terms of Supply

DISCLAIMER AND STATEMENT OF GENERAL POLICY
The following information has been supplied to Capital Commercial (2013) Limited (“Bayleys”) to be made available to any prospective interested parties for general information purposes only.
Bayleys and the Vendor do not warrant the accuracy or completeness of the information and recommends that all recipients make their own enquiries to their satisfaction in all respects and seek their own independent expert advice.
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Contact Grant Young

Capital Commercial 2013 Limited

Licensed REAA 2008

+64 4 499 6022 +64 21 988 613 grant.young@bayleys.co.nz All Listings

Contact Mark Sherlock

Capital Commercial (2013) Limited, Bayleys,

Licensed under the REA Act 2008