DABS Consulting Limited (DABS) is seeking expressions of interest from selected investors in respect to a modern Showroom/Office building at 585 Main Street, Palmerston North.
585 Main Street, Palmerston North is strategically located within the prestigious health/commercial precinct of Palmerston North. This is an area of high-quality buildings of predominantly office, retail and commercial developments. DABS has obtained, from Morgans Ltd registered valuers, a valuation of $7,200,000. Extracts from the valuation are available commenting on Palmerston North’s future plans and also the potential increase in market rent.
The quality tenant is Enable New Zealand a division of Mid Central District Health Board. A tenancy schedule with further details is included in the flyer and is available when you click the Documents tab.
On the site is a modern office and showroom re-developed in 2016/2017 for Enable New Zealand. The building forms part of the overall Mid Central DHB complex. The initial expected cash return is 6% pa. A five-year forecast cashflow is available in the flyer. The cash return to investors will be a regular 6% pa, paid monthly. This will allow a cash reserve to accumulate. Every year the investors will be given the opportunity to retain this reserve as a contingency or pay it out.
- Two level office and showroom building
- Large Freehold land area 1,507sqm
- Net Rental income $419,736 per annum + GST and Outgoings
- Located in Palmerston North’s Health Precinct
- Investment parcels of $250,000 available
- Tenant Enable New Zealand is a division of Mid Central DHB providing disability services to Ministry of Health, ACC and other DHBs
- Government funded
- New Zealand’s largest supplier of disability equipment and modifications
Click on the Register Interest button to receive more information and put in contact with the arranger. A flyer can be accessed by clicking the Documents tab.