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.
Contact Charlie Oscroft on 0800 802 480 for more information or REGISTER for more information.
Purchase Price $210,023,756
Initial Bank Loan to Value Ratio 49.3%
WALT 4.9 yrs** (weighted average lease term)
** Excluding monthly car parking