First Light Healthcare Fund LP

First Light Healthcare Property Fund LP (formerly One Double Two LP)  

The Fund commenced in 2011 with the purchase of 122 Remuera Road. In 2014 the Fund acquired the recently constructed medical facility located at 42-50 Totara Avenue in New Lynn to diversify the property risk. These are two of Auckland’s most renowned and state of the art medical facilities, both anchored by highly regarded and well-established GP tenancies.

In 2020 the Fund agreed to purchase an off the plan medical facility located at 18 Karewa Place, Te Rapa Hamilton. This property was settled in August 2022.

Fund Key Features

Inclusive of 3 properties

  • Three quality medical facilities
  • Premium Auckland and Hamilton locations
  • All three properties fully leased
  • WALT of 4.8 years
  • 28 tenants across the three properties
  • Regular rentals reviews across the tenancies
  • Conservative LVR of 43%
  • Returning $3,592,381 plus outgoings + GST
  • Fund GAV of $74,580,000
Register interest

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Underlying Fund Assets

122 Remuera Road, Auckland

Auckland

  • 100% leased
  • 15 tenancies
  • WALT of 3.3 years
  • Net rental income $1,520,704 p.a. plus GST and outgoings
  • A+ seismic rating
  • 79 onsite car parks
  • Regular rent reviews

32-50 Totara Avenue, New Lynn, Auckland

Auckland

  • 100% leased
  • 8 tenancies
  • WALT of 5.2 years
  • $1,547,972 p.a. plus GST and outgoings
  • A+ seismic rating
  • 72 car parks in the adjoining building
  • Regular rent reviews
  • 100% of NBS (New Building Standard)

18 Karewa Place, Te Rapa, Hamilton.

Hamilton

  • 100% leased
  • 5 tenancies
  • WALT of 8.1 years
  • $523,705 p.a. plus GST and outgoings
  • A+ seismic rating
  • 48 onsite carparks plus service areas
  • Annual rent reviews on all tenancies