7 Somers Place Spreydon, Christchurch City

This 6 bedroom, two bathroom, three toilets, single garage plus off street parking Spreydon Home has been leased by housing New Zealand since new in 2005.

The current lease runs until December 2020. At that point a new three year lease with annual CPI increases kicks in.

Thats

nearly 4 years of no vacancy.
nearly 4 years of no rent arrears.
nearly 4 years of not dealing personally with tenants
3 years of guaranteed CPI based annual rent increases.
All wrapped up in a tidy modern home

Rent $775.00 per week or $40300.00 annually. Housing NZ have an admin fee and there is a small body corp fee

With interest rates at record lows let the government create your equity.

At the end of the lease term Housing New Zealand may renew the lease but if they do not renew the lease the property is well suited to a large family, groups of workers or students.

Astute investors will understand how good this is!

This property takes care of many of the risks associated with property investment. Our owner lives in the North Island and is consolidating his investments. Make no mistake this property will sell and is priced to do so.

For sale at $577,000

For a private viewing and/or a full information pack on this listing please contact Bruce Pyott on bruce.pyott@raywhite.com