10 Clare Place, Mt Wellington, AKL

Project Name: SeriesNo1 Limited

Realties invites investors to invest in 10 Clare Place, Mount Wellington, Auckland, comprising ten single bedsit units. Clare Place has been operating for over ten years and has a proven record of governance and returns to the current owners. It has enjoyed 95% occupancy.

 

Fine Print

This investment is intended to be listed on the Catalist Public Market and capital raised pursuant to the Financial Markets Conduct(Catalist Public Market) Exemption Notice2021. It will not be a regulated offer under the Financial Markets Conduct Act 2013. No money is currently being sought and no shares are currently being offered for sale at present.

Investments will only be accepted after the offer documentation has been posted to this market page, however you can indicate your preliminary interest in this offer by logging into your account and clicking on the “register interest” button below

The shares are intended to be periodically tradeable on the Catalist Public Market and updated information will be required to be released prior to each periodic auction

Financials of SeriesNo1 Limited

Expected Net Income: 7% Gross Dividend paid monthly (excl. any capital gain)

Price per share: $100 

Total Investment: $3,435,000 (GST excl.) of which 40% is being offered to the public. The balance is being retained by the current owner.

Total Shares: 72,000

Property Valuation Document

Register Your Interest

About The Property

Clare Place was built in 2011 purposely designed to have 10 individual bedsit units for rental. The structure is made out of aerated concrete allowing it to stay warm dry, maintenance free and strong to withstand damage from tenants.

It is situated near Sylvia Park shopping mall and other major shopping centres. Public transport is within walking distance including the train. This makes it a desirable location for people who work in the area.

For the past 10 years, there has been a 95% occupancy rate for the property and vacant rooms only stay vacant for usually less than 2 weeks.

How The Property Is Managed

The owner of the property has been managing the property and the tenants for the past 10 years, and when the Realties campaign is successful, a property management company will be appointed to manage the property.

Property Features

What's In It For You?

If you decide to invest in 10 Clare Place, you’ll receive monthly dividends on your shares, plus you’ll also have the opportunity to buy additional shares at auction, or sell your shares if required. Also the potential for any capital gain.

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