Quest Henderson is yet another great development completed by the safari Group. Quest Henderson is located at 12 Wadier place, Henderson, Auckland, New Zealand
This building has been designed specifically to meet Quest’s criteria. It comprises 39 furnished units (being a mixture of Studios and one bedroom units, twin keyed in a number of configurations), 18 car parks, an office and reception area with common and storage areas. The development was completed and fully sold late 2010.
The general lease terms are:
|Term:||15 + 5 + 5|
|Initial Rental:||$577,599 plus GST gross or $511,827 plus GST Nett|
|Reviews:||2.0% pa increase starting on yr 4 and market on renewals|
The opportunity exists for a single purchaser to secure the completed development at a discounted (7.0% net return) with further growth expected due to fixed rent increases.
Alternatively the opportunity exists for a individual purchaser to secure completed suites at a (7.0% net return) which will also ensure further growth due to fixed rent increases.
UPDATE July 17th 2010:
UPDATE June 16th 2010: