+ 8.0% p.a. projected cash return paid quarterly
+ The Government tenant has occupied the property as the sole tenant for over 30 years.
+ Seismic rating of A, and a 100% NBS
+ Prominently situated on a corner site in downtown Dunedin – less than 1km from the Octagon.
+ Minimum investment from $100,000
*Projected pre-tax return for one full year period. Details on how the return will be calculated and the risk associated with the investment and return are set out in the Information Memorandum
8.0% Cash Yield
The Maclaggan Property Syndicate is offering a projected pre-tax cash return of 8.0% per annum, paid quarterly.
This does not include additional income from any increase in the property value over time.
13 units available for purchase at $100,000 per unit, with incremental investment in $50,000 lots.
Offer Closes Monday 26 August 2019, with settlement on Monday 2 September 2019.
43 Maclaggan Street is a single level 755m2 office complex on a 1763m2 site. This freehold property includes 22 carparks.
Built in 1989, 43 Maclaggan Street has a seismic rating of A, and a 100% New Building Standard rating (report produced in February 2016).
Purchase Price is $2,265,000. Register valuers, Telfer Young have valued the property at $2,290,000.
The Government tenant is the Accident Compensation Corporation (ACC).
This property has been occupied by ACC as the sole tenant for over 30 years.
The current lease is due for renewal 30 June 2022.
43 Maclaggan Street is prominently situated on a corner site in downtown Dunedin – less than a kilometre from the Octagon.
Dunedin property values have seen consistent strong growth, and demand remains high for all property types in Dunedin.
Significant development at the University of Otago and construction of the $1.4 billion dollar New Dunedin Hospital continues to stimulate the local economy and put pressure on the supply of commercial property.
Offers will be restricted to “Wholesale Investors” under clauses 3(2) and 3(3) of Schedule 1 to the Financial Markets Conduct Act 2013 (or to any other person to whom an exclusion applies under Schedule 1 of that Act). Preliminary indications of interest are being sought at this stage and no indication of interest will involve an obligation or a commitment to participate in the Offer.