1289 Haupapa Street, Rotorua Central, Rotorua

Healthy returns from a medical investment

•Freehold 603sqm site with modern 204sqm building (built 2010)
•Returning $76,884pa + GST + outgoings with annual CPI increases
•Five-year lease with further renewal options and market reviews at renewal
•Seven on-site carparks in a sought-after CBD fringe location

1289 Haupapa Street presents a tightly held freehold investment on the fringe of Rotorua's CBD, returning strong income from an established clinical tenant. Constructed in 2010, the modern 204sqm building sits on a 603sqm site and has been extensively adapted for medical use, with significant fit-out works undertaken by the original occupier to suit their operations prior to the current tenancy. The result is a well-configured clinical facility offering investors a low-maintenance asset with built-in rental growth. The property is leased to international tenant PCRN Clinical Trials Limited on a five-year term with further rights of renewal, annual CPI rental increases (excluding market reviews on renewal) and the benefit of on-site carparking, delivering both security and future upside.