ATTENTION INVESTORS - FREEHOLD TITLE!!

BRICK & TILE UNIT

VIEW BY APPOINTMENT

A fantastic opportunity has come up to purchase a 101 sqm two-bedroom free standing brick and tile home situated on its own 319 sqm freehold title. Situated in a quiet and secure location well back from the road in the heart of Saint Andrews.

The property was constructed in 2009 of modern low maintenance materials. A tile roof, brick and double-glazed aluminium joinery throughout. The property is in excellent condition and has had the one owner since new.

Income from the property is guaranteed, whether occupied or vacant, through a lease with Kainga Ora. The lease with Kainga Ora runs to 26th November 2024. Kainga Ora arrange the tenant and property manages them as well.

The lease payment received from Kainga Ora is $1,993 (net) per month. The lease is reviewed by Kainga Ora in December each year through a CPI formula and the lease payment adjusted accordingly.

There is no Body Corporate Levy as there is no Body Corporate requirement for this freehold property.

The property is situated in an excellent location in Saint Andrews and is only a short distance to shops and a Supermarket.

Please call the listing salesperson Kevin Benge now on 0210666972 for further details.

PLEASE NOTE: Specified floor and land area sizes have been obtained from sources such as Property Guru, Hamilton City Council (LIM) or Title documents. They have not been measured by the Salesperson or Online Realty Ltd. We recommend you seek your own independent legal advice if these sizes are material to your purchasing decision.

According to the IRD, as the property's sole purpose is for social housing and it is leased to a Government Agency Kainga Ora then the owner can still claim interest deductions during the term of the lease (Purchasers should confirm this with their accountant or solicitor before proceeding further with this property).