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. See “What’s in it for me” below

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

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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

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.                                       

 

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