1018 Plunket Street, Hastings Prime housing asset with $490,688 plus GST lease
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Available PropertyFiles:
- 1. Information Memorandum_1018 Plunket Street.pdf (public)
- 2. Deed of Lease_signed.pdf
- 3. Title_1018 Plunket Street.pdf (public)
- 4. RMA20240323 - Subdivision Decision Unit Title.pdf
- 5. RMA20240323 - Letter advising that Consent has been granted.pdf
- 6. RMA20240323 - Subdivision Report Unit Title LIZ.pdf
- 7. LIM Report_1018 Plunket Street.pdf
Property Description
• Recently developed 3,581sqm (more or less) site with 15 townhouses• Currently returning net income of $426,582 plus GST per annum
• Proximity to schools, hospital and other services
Bayleys are delighted to present to market a high standard, long-term housing asset located at 1018 Plunket Street, Hastings.
Returning an income of $490,688.69 plus GST per annum (approximately $426,582 plus GST net) with annual growth, this fully tenanted asset is currently leased as transitional housing to Te Taiwhenua o Heretaunga.
Developed in 2022, this well-located 3,518sqm site in Stortford Lodge comprises 15 townhouses and 16 common vehicle parks. The balance of the site is well landscaped with lawn areas, plantings, outdoor lighting and terraces.
A five-year lease from October 2022 with two further terms of three years, market rent reviews upon renewals, and annual CPI will provide bankable returns and benefit any portfolio.
The recently acquired resource consent for subdivision into separate unit titles also provides opportunities for diversification.
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Terms of Supply
This information has been supplied by the vendor or the vendor’s agents to Bayleys. Accordingly, Bayleys, Eastern Realty Limited and Kerry Geange are merely passing over the information as supplied to us. We cannot guarantee its accuracy and reliability as we have not checked, audited or reviewed the information and all intending purchasers are advised to conduct their own due diligence investigation into the same.All parties are strongly encouraged to take their own advice in respect of passed over information, including confirming it is complete and fit for purpose.
To the maximum extent permitted by law Bayleys, Eastern Realty Limited and Kerry Geange do not accept any responsibility to any person for the accuracy of the information herein.
Contact Kerry Geange
Eastern Realty Limited
Licensed under the REA Act 2008
0275432643 kerry.geange@bayleys.co.nz All Listings
After growing up in the Wairarapa, schooling in Greytown and being awarded an Honour's Degree in Planning had a career of almost 20-years of experience as a consultant planner in NZ and the UK. Multi-million dollar private and public projects as an expert, negotiation, programme management, and sitting on high profile project boards, including for the Mayor of London on the world leading Central London Congestion Charging Scheme were among his highlights.
This impressive and successful background has shifted well into commercial real estate, with Kerry central in successful sales of over $150m in property in 2021. Kerry has built a reputation of professionalism, honest real estate, and working in the interest of clients.
Contact Jodie Woodfield
Eastern Realty Limited
Licensed REAA 2008
021 422 332 jodie.woodfield@bayleys.co.nz All Listings
With 5 years of real estate administration under her belt in both the residential and commercial sector, Jodie now joins Kerry Geange in a Sales Associate role. With an exceptional eye for detail and an understanding of commercial real estate rivalling most agents, Jodie provides value to every campaign.
