53 Ronaldsay Street

Residential Care Facility - New Lease in Place

53 Ronaldsay Street, Palmerston represents a unique opportunity to purchase a residential care facility with a brand-new lease in place to a residential care provider.

The property fronts Ronaldsay Street (State Highway 1) in the established town of Palmerston, located around halfway between Dunedin and Oamaru.
Built from Oamaru stone, and comprising of 24 residential rooms, plus all living spaces, kitchens, bathrooms, offices and storage, this property is very well configured for this in demand use.

Some of the key investment highlights are as follows:
•Total site area 3,826sqm (more or less)
•Total Floor Area 950sqm (more or less)
•Leased to Kinoy Ale-Port Limited (as assignee) trading as Paramount Healthcare
•Approx 9% net return on asking price