58 Princes Street, Netherby, Ashburton 30 yeartriple net lease -healthcare

Available PropertyFiles:

  • /Building Warrant of Fitness/
    • 2024 BWOF Princes Court.pdf
  • /Condition Summary Report/
    • 2.2.2.28 Condition Assessment Princes Court.pdf
  • /Information Memorandum/
    • Princes Street 58_IM_Jul 2024.pdf
  • /Insurance Documentation/
    • 2024 COI - Princes Court.pdf
  • /Lease Documentation/
    • Lease Documentation.zip
  • /Record of Title/
    • CT_Princes Street 58.pdf
  • /Site Plan/
    • Princes Park Plan.pdf

Property Description

• 30 year triple net lease commenced 31st March 2022
• Rights of renewal totalling 60 years expiring in 2112
• Annual rental growth linked to CPI (max 4% and min 1%)
• Strong tenant and sector combined with a stable, long term and growing income stream

Princes Court Lifecare comprises a 35-bed care facility, currently providing secure dementia-level care. It is located approximately 2km from Ashburton town centre in an area with a higher proportion of over 75-year-olds than the national average. This property is leased to Heritage Lifecare Limited, one of New Zealand’s leading and largest aged care providers. The facility is in tidy condition and presents well.

A circa 1,000sqm area of vacant land to the rear of the property offers future add value potential through possible expansion.

With the strong performing sector, underpinned by high levels of government funding and increasing demand from New Zealand’s rapidly ageing population, this asset will appeal to all investors seeking an affordable, hands-off investment.

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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 most experienced and successful commercial and industrial real estate salespeople.

His involvement in several billion dollars’ worth of sales and leasing transactions means he has consistently been one of Bayleys' top-performing salespeople for almost four decades. He has also received independent recognition, being awarded “Real Estate Institute of New Zealand (REINZ) National Commercial and Industrial Salesperson of the Year” three years in a row.

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. A selection of recent sales are below.

Mike is also the Head of Bayleys Funds and Investment Products Division, that he was involved in establishing in 2001, and is 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, and debt offerings with fixed terms and higher projected IRRs are also available. 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 and sales of around 70 property funds with a total combined property value in excess of $2.5 billion.

To learn more about Bayleys Funds and Investment Products Division and the current investment opportunities, please visit bayleys.co.nz/funds or contact Mike.