Wholesale
First Light Capital Limited

233 Collingwood Street

Property

Register Interest

WARNING

The law normally requires people who offer financial products to give information to investors before they invest. This information is designed to help investors make an informed decision.

If you are a wholesale investor under the definition of that term in clause 3 of Part 1 Schedule 1 of the Financial Markets Conduct Act 2013, the usual rules do not apply to offers of financial products made to you. As a result, you may not receive a complete and balanced set of information.

You will also have fewer other legal protections for these investments. Ask questions, read all documents carefully, and seek independent financial advice before committing yourself.

Transaction Size
NZD 8,025,000.00
Share Price
Minimum Investment
NZD 50,000.00
Issue Type
Property
Sector
Property

The opportunity exists to express interest in an investment into 233 Collingwood Street.

233 Collingwood Street is a premium commercial property located in a prominent position at the elevated corner of Collingwood Street and Ruakiwi Road, Hamilton CBD. The building is named after its lead tenant NZI (New Zealand Insurance) which is owned by IAG Ltd (Insurance Australia Group) an ASX listed company.

WorkSafe NZ has also recently entered into an initial 6-year lease for the ground floor tenancy, providing added security through a government lease. There is a third, smaller tenancy on the ground floor which has a 1 year lease from settlement to Wallace Construction Limited, who are the vendors.

The NZI building is located 500m from the new $50m ACC office development that will accommodate 650 staff. This project is mid-way through construction by the Iwi-owned Tainui Group Holdings and is scheduled for completion in October 2022.

The Property

  • Premium location in Hamilton CBD
  • Anchored by large corporate and government tenants
  • 49 on site car parks
  • Long term leases with regular rental growth
  • Brand new air conditioning system throughout
  • Net income of $678,409 + GST and outgoing
  • “A” Grade seismic rating
  • 2152 sqm freehold site with 1721 sqm of net lettable area
  • Purchase price of $14,000,000
  • 1st December 2021 settlement date
  • Offer partially underwritten

To see the related brochure click on the Documents tab.

For more information, click the Register Interest button.

FLC_Collingwood Brochure
October 3, 2021
3/10/2021

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