10 Clare Place, Mt Wellington, AKL
10 Clare Place, Mount Wellington, Auckland, comprising ten single bedsit units. Clare Place Ltd has been operating for over twelve years and has a proven record of governance and returns to the current owners. It has enjoyed over 90% occupancy.
Fine Print
The next 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 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 Clare Place Ltd
Register Your Interest for the next project.
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 over 90% occupancy rate for the property and vacant rooms only stay vacant for usually less than 2 weeks. This accommodation is always in demand
How The Property Is Managed
The owner of the property has been managing the property and the tenants for the past 12 years.
Property Features
- Purpose Built
- 10x Bedroom
- 10x Bathroom
- Constructed in 2011
- Concrete Construction
- Zoned Mix Housing Urban
- Double Glazing
- Off Street Parking
- Security System
- Gas Central Heating
- 95% Occupancy Average
What's In It For You?
Back in 2011, a property for Clare Place Ltd was built for approx. $1,000,000. Net Earnings before tax was over $100,000
Earnings: A Tale of Steady Growth
In 2018, the net earning before tax from this property was $117,000, translating to a substantial 11.7% return on the original investment. Fast forward to 2024, and the earnings have increased to $151,000, or an impressive 15.0% return on the original investment. This steady growth in earnings illustrates the consistent cash flow.
This does not include any capital gain over that period.
Register Your Interest in our next exciting project.
Become a Property Owner
Join the RealtiesNZ mailing list and get notified each time we list a new property