FHGC, CBD Apartment Block Investment

Asset sale: bankable investment or holding income

This will appeal to investors seeking an asset with steady rental streams in a well-known CBD apartment building.

Hamilton CBD real estate investment comprising 14 stratum in freehold apartments, designed for short- or long-term residential or business use, is now for sale.

Mostly, all apartments benefit from 100% occupancy on residential fixed and periodic tenancies secured with bonds. With the current tenancies, an astute purchaser can secure a long-term capital asset with holding income, while also considering a variety of income-generating opportunities, such as short-term hotel operation with guest self-check-in/check-out options, or STR options.

41 Ward Street recently underwent extensive building renovation. The Code Compliance Certificate for the renovation was issued in May 2023.

Key facts

• $4,850,000 Council RV: 14 CBD fully contained apartments
• $314,200 gross annual rental, offering a purchaser immediate leveraged income
• Zoned Central City, Precinct 1 (Downtown), unlocking future operational potential
• 69% IEP and fully compliant
• Hamilton CBD

Options are unlimited at Ward Street: retain the investment as is, operate as a hotel/motel, or use as a corporate investment for staff and visitors to the region.

Asking price: $4,850,000

Please complete the NDA and contact Lindsay Sandes, LINK’s accommodation specialist.

Lindsay Sandes, 021 895 940, lindsay.sandes@linkbusiness.co.nz

*Please refer to the LINK website for full disclaimers.