Available PropertyFiles:

  • /Condition Summary Report/
    • 2.2.2.29 Condition Assessment Puriri Court.pdf
  • /Information Memorandum/
    • Kamo Road 202-204 and 214-216_Approved IM_Mar 2024.pdf
  • /LIM Reports/
    • Kamo Road 202-204_LIM Report_Apr 2024.pdf
    • Kamo Road 214_LIM Report_Apr 2024.pdf
  • /Lease Documents/
    • 2023 Rent Review Letter.pdf
    • Lease.pdf
  • /Record of Title/
    • Titles.zip
  • /Site Plan/
    • Site Plan - Puriri.pdf

Property Description

• 30-year triple net lease commenced 31st March 2022
• Rights of renewal totaling 60 years expiring in 2112
• Annual rental growth linked to CPI and capped at 4%
• Future-proofed approximately 2,795sqm of development land for expansion

Puriri Court Lifecare comprises a 74-room care facility, currently providing full rest home, respite and medical services located on the urban fringe of Whangarei City, approximately 4km of the city centre. The property is leased to Heritage Lifecare Limited, one of the largest aged care providers in New Zealand.
Underpinned by high levels of government funding and increasing demand from New Zealand’s rapidly ageing population, this asset will appeal to astute investors seeking a premium, hands-off investment positioned in the sought-after healthcare sector experiencing strong growth.

For more information, please contact below.
Henry Napier
+64 21 024 64785
henry.napier@bayleys.co.nz

Mike Houlker
+64 21 945 927
mike.houlker@bayleys.co.nz

Sunil Bhana
+64 21 938 660
sunil.bhana@bayleys.co.nz

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Terms of Supply

The following information has been supplied to Bayleys Real Estate 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.

Contact Sunil Bhana

Bayleys Real Estate Limited

Licensed under the REA Act 2008

09 375 8438   021 938 660   sunil.bhana@bayleys.co.nz   All Listings

In 2017 Sunil was promoted to the role of managing Bayleys Central and West Auckland Industrial Sales and Leasing Team, a high performing, experienced, group who work together in a collaborative environment to ensure the best client outcomes are achieved.

Sunil joined Bayleys in 2001 having completed a Bachelor of Commerce and a Bachelor of Property at the University of Auckland. Initially focussing on the industrial sales and leasing market in Penrose and Mt Wellington, Sunil established an excellent grounding operating in both buoyant and difficult markets and learning the skills required to bring a deal together.

As a senior broker, Sunil has continued to service the Auckland Industrial market as well as completing other commercial, industrial and special projects throughout New Zealand working in conjunction with Bayleys National network of agents.

Sunil’s personable approach and hard working attitude has lead the conclusion of a significant number of transactions in leasing, vacant, investment and land sales. Sunil is motivated and results oriented, and provides a professional approach to property marketing, possessing the attention to detail essential to the smooth running of a marketing campaign.

Sunil has been awarded Bayleys’ Staff Recognition and Ian McHardy Recognition Awards in acknowledgement of his contribution and commitment to the Bayleys Company and has consistently featured amongst Bayleys top performing agents, regularly positioned in the top 10% of Bayleys Salespeople nationally.

Contact Mike Houlker

Bayleys Real Estate Limited

Licenced under REA 2008

09 375 8437   021 945 927   mike.houlker@bayleys.co.nz   All Listings

Mike Houlker is one of New Zealand’s top and most experienced commercial and industrial real estate salespeople - as recognised by being awarded the “Real Estate Institute of New Zealand (REINZ) National Commercial and Industrial Salesperson of the Year” for three out of the last five years. An incredibly rare achievement in New Zealand’s real estate sector.

Across all markets, Mike Houlker has been involved in many billions of dollars’ worth of sales and leasing transactions and has consistently been one of Bayleys' top performing salespeople over the last three decades.

Since joining Bayleys in 1986, Mike Houlker has had roles in sales and management in Wellington, Sydney and Auckland. His ‘cut-to-the-chase’, plain language, practical approach to all property matters has gained him not only respect in the industry, but also huge repeat and referral business.

As an integral part of the Bayleys’ commercial and industrial team in Auckland, Mike also works with Bayleys’ wider agency network across all of New Zealand and project manages a large number of national and international marketing campaigns on behalf of Bayleys’ clients.

Mike is also the head of Bayleys syndication and investment products division and qualified as a financial advisor. Bayleys provides investors opportunities to access premium, high-yielding property offerings across the commercial, industrial, healthcare, and agricultural property sectors with forecast returns paid monthly. Access to ‘value-add’ fund opportunities with fixed terms and higher projected IRRs are also offered. With a very wide range of clients, investment amounts range from the minimum ($10,000) through to many millions spread across multiple offerings.

Working in conjunction with one of Australasia’s leading and largest property fund managers, the ASX200 listed Centuria Capital, Mike has project managed the marketing of more than 60 syndications and property funds over the past 20 years – raising over $1.3 billion of capital from investors with a total property value in excess of $2.5 billion.

Recent single asset funds (commonly referred to as “syndications”) and property funds that Mike has project managed the marketing and selling of include two of New Zealand’s largest - raising approximately $270 million of capital from investors over three stages for Centuria NZ Industrial Fund (formerly Augusta Industrial Fund) and the $109 million equity raise of Visy Glass Industrial Property in Penrose, Auckland.

Other investment opportunities offered within the last year include an agricultural property fund, along with a healthcare property fund comprised of a portfolio of 23 aged care facilities with 30-year triple net leases to Heritage Lifecare.