Available individually or as a portfolio.
Colliers is pleased to present a rare opportunity to acquire 10 ground lessor’s interests across Thorndon and Kelburn, offering passive income from strategically located inner-city Wellington landholdings.
The portfolio generates a combined $1,153,187 per annum in rental, with individual rentals ranging from $42,602 to $305,250 per annum. The portfolio has an approximate 11.1-year weighted average lease term and comprises 10,634 m² of land.
Lessee include Queen Margaret College, Victoria University of Wellington and Molesworth Apartments Holdings Ltd, providing exposure to established education and residential uses.
The properties are held under 14-year perpetually renewable ground leases, with ground rentals reset to market on renewal. The structure provides investors with passive land-based income without the direct building ownership and capital expenditure obligations associated with conventional commercial property investment.
*Please note all areas and values are approximate only. Boundary lines are indicative only.
For further information please contact:
Richard Findlay on 021 620 188 or [email protected]
Alistair Robertson on 021 418 647 or [email protected]
Matt Sisson on 021 468 842 or [email protected]
Features:
* 10 ground lessor’s interests across Thorndon and Kelburn
* $1,153,187 p.a. combined ground rental
* Individual ground rentals from $42,602 to $305,250 p.a.
* Lessees include Victoria University of Wellington, Queen Margaret College and Molesworth Apartment Holdings Ltd
* 10,634 m² combined underlying land area
* Approximately 11.1-year WALT
* 14-year perpetually renewable ground leases
* Passive investment exposure to tightly held inner-city Wellington land
