5 Bedroom Solid Investment
|Address:||701/8 Mount Street, Auckland, Auckland map|
The Unicentre represents an outstanding opportunity for someone looking to purchase an investment similar to a small commercial property with a core tenant in place on a long term lease. Purpose built for the student market in 2004 by Fletchers it comprises 105 large apartments with 4- 5 bedrooms, study area for each bedroom, 2 bathrooms.
Apartment #701 is a 5 bedroom, 100m2 apartment.
All apartments have a lease in place to the AUT (Auckland University of Technology). The AUT is the core tenant who in turn sub lease each room to individual students charging them per room. AUT provide a 21 year guaranteed net rental until 2025 with a right of renewal for a further 9 years until 2034.
All operational costs are covered by the AUT which include, Body Corp fees, Insurance, Land rates, maintenance, marketing for students, advertising etc.
*There is a 5% Property Management fee to the investor.
Net rental is currently in excess of *$30,000 + GST per annum, ($585 per week) with a further rent review currently under negotiation.
All purchasers must be registered for GST. We recommend that all interested parties seek independent professional advice.
Enquire now for further information on this investment opportunity.
(attached photo's are generic)