Bayleys Real Estate Ltd
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Whangarei Central

202-204 and 214-216 Kamo Road, Whangarei Central, Whangarei

9,592sqm Land area SQM
2,224sqm Floor area

30-year triple net lease - healthcare

• 30-year triple net lease commenced 31st March 2022
• Rights of renewal totaling 60 years expiring in 2112
• Annual rental growth linked to CPI and capped at 4%
• Future-proofed approximately 2,795sqm of development land for expansion

Puriri Court Lifecare comprises a 74-room care facility, currently providing full rest home, respite and medical services located on the urban fringe of Whangarei City, approximately 4km of the city centre. The property is leased to Heritage Lifecare Limited, one of the largest aged care providers in New Zealand.
Underpinned by high levels of government funding and increasing demand from New Zealand's rapidly ageing population, this asset will appeal to astute investors seeking a premium, hands-off investment positioned in the sought-after healthcare sector experiencing strong growth.

For more information, please contact below.
Henry Napier
+64 21 024 64785

Mike Houlker
+64 21 945 927

Sunil Bhana
+64 21 938 660

For Sale by Negotiation
Henry Napier

Henry Napier

Commercial, Industrial and Development Sales and Leasing

Mackys Real Estate Ltd, Bayleys,
Licensed under the REA Act 2008
Mike Houlker

Mike Houlker

Commercial Manager and Head of Funds and Investment Products

Bayleys Real Estate Ltd, Auckland Central,
Licensed under the REA Act 2008
Sunil Bhana

Sunil Bhana

Director - Capital Markets, Industrial and Logistics

Bayleys Real Estate Ltd, South Auckland,
Licensed under the REA Act 2008


Anchor tenants

Strategic and defensive income producing aged care asset with a strong tenant covenant and long-term lease security.


Sought after institutional grade investment opportunity within the healthcare real estate sector that is a totally passive performer with a proven tenant and track record.


30-year triple net lease commenced 31st March 2022 with rights of renewal totaling a further 60 years and final expiry in 2112, making this an extremely stable investment.


Annual rental growth built in linked to CPI offsetting inflation pressure, subject to a 4% per annum cap (minimum 1% increase) providing the security of a long-term WALT and lucrative cash flow.

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