Offered to the market presents an exceptional and rare opportunity for astute investors to purchase a solid old-style rest home facility on a rural site at 54 Maata Road Eltham. This facility comprises a total of circa 1,408sqm of care accommodation and two separate four-bedroom residential dwellings on approximately 1.0102-hectare freehold site which is located approximately 2.6 kilometres to the south of central Eltham and 11 kilometres to the south of Stratford, in South Taranaki.
The established tenant, a reputable rest home operator trading as "Eltham Care Rest Home" with the initial contract rent set at $350,000pa+GST and outgoings is certified to provide a mixture of rest home and dementia care across 41 beds. With consent of council and ministry of health, there is a redevelopment potential in terms of some hospital beds to increase rental income.
The ageing of New Zealand population has become much more evident these years with booming demand for health and rest home facilities, the property represents a classic 'second to none' passive investment with redevelopment potential in a rapidly growing industry.
Approximately 1,408sqm lettable units on 1.0102 hectares fee simple rural site
Annual rental $350,000pa+GST and outgoings
75% Grade B with assessment date in June 2019
Redevelopment potential in terms of some hospital beds
Pleasant rural setting with great outlook
Aged care sector foreseen as high demand industry
Opportunity doesn't knock twice, seize it today.