Colliers International is pleased to bring you our latest offer from Oyster Property Group.
Offering a projected 8% per annum pre-tax cash return* for the first full financial year, The Millennium Centre, located in Greenlane, Auckland is the single largest institutional-grade property asset to be offered to wholesale investors in the New Zealand market and represents a compelling opportunity for investors. The offer is open to Wholesale Investors with a minimum investment of $250,000 per interest.
Consisting of seven standalone office buildings set across three hectares of land and incorporating 1,576 carparks, the property is home to about 2,500 workers each day. In a market where commercial office vacancy rates are rapidly declining and recent rises in both prime and secondary rents are forecast to continue to grow, The Millennium Centre is well placed to meet the needs of future businesses looking to locate to the popular Southern Corridor precinct. From an investor’s perspective, the property currently enjoys a 94% occupancy rate and a well-diversified income stream with the top 10 tenants accounting for 59% of total rental income.
REGISTER for more information.
Disclaimer: Colliers International refers to the network of member firms of Colliers International New Zealand Limited, each of which is a separate and independent legal entity. The information contained in this site is for general guidance on matters of interest only. The application and impact of laws can vary widely based on the specific facts involved. Given the changing nature of laws, rules and regulations, and the inherent hazards of electronic communication, there may be delays, omissions or inaccuracies in information contained in this site. Accordingly, the site should not be used as a substitute for consultation with a licensed commercial real estate broker or other competent advisers. Before making any decision or taking any action, you should consult a Colliers International professional. While we have made every attempt to ensure that the information contained in this site has been obtained from reliable sources, Colliers International is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information in this site is provided “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose. In no event will Colliers International, its related partnerships or corporations, or the partners, agents or employees thereof be liable to you or anyone else for any decision made or action taken in reliance on the information in this site or for any consequential, special or similar damages, even if advised of the possibility of such damages. Certain links in this site connect to other Web sites maintained by third parties over whom Colliers International has no control. Colliers International makes no representations as to the accuracy or any other aspect of information contained in other Web sites.”
Millennium Centre comprises a significant institutional-grade commercial property in the heart of the Southern Corridor precinct
|Investment Unit Size||$250,000 parcels|
|Forecast Pre-tax Cash Return to Investors||8% per annum*|
|Initial Bank Loan to Value Ratio||49.3%|
|WALT (weighted average lease term)||4.9 yrs**|
* For financial year period 1 April 2017 – 31 March 2018
** Excluding monthly car parking