169 Chapel Rd, Flat Bush, Manukau City, Auckland, 2016, New Zealand

Each unit investment is $1,670,000 (plus GST, if any).

Brand new passive investments purpose-built modern facility located in East Auckland with proximity to Ormiston Town Centre, Botany Town Centre and Manukau City. All units are Stratum in Freehold (Unit Title) property with 15 units to invest. Each unit title occupies an entire floor.

Each unit has five separate studio rooms with ensuite and a communal kitchen, laundry, and lounge. The studio units are all furnished.

Each unit provides good quality, affordable rental accommodation in a well-serviced part of Auckland.

Strong tenant covenant supported by a nine-year lease term to Clarke Group and a sublease to a Government-funded Community Housing Provider. Initial estimated 5.0% nett return for this investment. All leases have an additional right of renewal.

Business usage is residential accommodation.

The property has extensive landscaping and is fenced, allowing privacy and controlled security access.