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Brand new childcare investment at 93-97 Victoria Street in Pukekohe

Brand new childcare investment at 9397 Victoria Street in Pukekohe

Premium-grade, purpose-built childcare facility, fully leased to a highly experienced industry operator.

A newly completed childcare centre in the South Auckland growth hub of Pukekohe is for sale as a tenanted investment on a new 15-year lease.

The property at 93-97 Victoria Street comprises a premium-grade, purpose-built childcare facility, fully leased to a highly experienced industry operator.

Shoneet Chand, Director of Colliers International’s Investment Sales team, says the property has strong fundamentals across all key investment criteria.

“This offering boasts a 15-year lease from December 2019, fixed rental growth, proven tenant covenant, and a brand-new building in a high-growth Auckland location.

“The building was consented by market-leading childcare development company Establish and constructed by reputable developer Signature Homes.

“It is tenanted by Kiddie Academy Limited – an established childcare operator with more than five licences and a growing roll of over 700 children.

“The property returns $308,880 in net annual rent, with fixed rental growth of 2 per cent annually and market reviews every five years, capped at 10 per cent.

“All of these elements make it an ideal long-term, passive investment that must be seriously considered.”

The property is for sale through Colliers International by way of deadline private treaty. Offers close at 4pm on Thursday 12 December, unless it is sold earlier.

Colliers Director Matt Prentice says the modern, low-maintenance building is consented for 110 children and designed to the highest industry standards.

“The building has a net lettable area of 647.8sq m including age-separated play areas, a modern kitchen, child and adult bathrooms, and a staff office.

“It was built-for-purpose with hard-wearing floor surfaces, double-glazed safety glass, and plumbing fixtures specifically catered to childcare centre requirements.

“The building sits on a 2,028sq m freehold site, spanning two titles, with 21 on-site car parks. The large landholding, zoned Residential Mixed Housing Suburban, provides underlying value.”

The property’s builder, Signature, has delivered more than 140 childcare developments since 2002 and has been the Ministry of Education's preferred builder of childcare centres for the best part of a decade.

“With such strong developer credentials, backed by solid tenant covenant, this is a truly outstanding long-term property investment.”

Matthew Barnes, Colliers’ South Auckland Director of Investment Sales, says the tenant is one of many quality centres that experienced operator Steven Xue has been involved with.

“Steven has more than 13 years’ experience in developing and operating early childhood centres in New Zealand. He is also finalising a doctoral degree specialising in cultural responsiveness in governance within the sector.

“Steven’s in-depth understanding of early childhood education, as well as what it takes to run a successful business, has led to strong growth across the Kiddie Academy group.

“Successful brands under Steven’s umbrella include Appleseed Educare, Giraffe Early Learning Centre and Happy Tots Childcare.”

Barnes says the centre is superbly located in an established residential area just under 1.5km west of Pukekohe’s CBD.

“Pukekohe has been identified by Auckland Council as a priority satellite town and is anticipated to grow to a population of 50,000 by 2040 – more than double its current 21,000 residents.

“To facilitate this growth, the Pukekohe Area Plan allows for growth in the future urban zone, enabling at least 100ha of new business land, supporting land development and more.”

Pukekohe is located about 50km southwest of Auckland’s CBD. It services its own growing population as well as the wider Franklin District, including the growth hubs of Waiuku, Pokeno, Tuakau and Karaka.

It is only eight minutes from State Highway 1, putting it within 45 minutes of Auckland’s CBD via car.

Pukekohe can also be accessed via SH22 from Drury, which is earmarked for substantial industrial, commercial and residential growth.

The Pukekohe Train Station is centrally located off Manukau Road, a main urban road through town.

Regular services provide an easy commute into Auckland’s CBD, which is an hour and 10 minutes from Britomart via train.

Pukekohe is home to many hospitality operators, national retailers, trade outlets, education facilities, industrial occupiers and sporting clubs and facilities.

Related Experts

Shoneet Chand

Director

Auckland North

Shoneet has been involved in selling investment property for over 12 years and since 2015 he has been a Director in the Investment Sales Team at Colliers International, specialising in Investment & Development Sales across the wider Auckland region.

Over the past 8 years he has been one of the most successful investment sales brokers in Auckland with a track record of significant sales second to none. He has had considerable experience in dealing with international purchasers and has recently completed several deals with investors out of Asia, Europe and the Middle East. He has been involved in a number of large land sales and portfolio sales, including divestments for well-known brands like Z Energy, The Warehouse & Bunnings.

Shoneet has been the top broker in his market for both 2014 and 2015 while also placing in the top 10 brokers nationwide again for Colliers in 2016. In 2017, Shoneet transacted over $260 million of property and was ranked 2nd in New Zealand.

He was the top broker at Colliers in the 2018 financial year and a finalist for the Commercial & Industrial Salesperson of the Year award, which is judged nationwide across all agencies. In both 2019 & 2020 he was again ranked in the top 5 brokers nationwide for Colliers and was involved in over $300 million & $325 million of sales in each calendar year. 

Over the past six years, he has transacted over $1.5 Billion dollars in sales.

Notable Transactions over $10m include;

  • 2-4 Fred Thomas Drive, Takapuna - $60,850,000

  • 33 Corinthian Drive, Albany - $50,500,000

  • 229 Dairy Flat Highway, Albany - $33,000,000

  • Todd Industrial Park –Wellington - $33,000,000

  • 9-11 Corinthian Dr, Albany - $27,340,000

  • 44 Taharoto Road, Takapuna - $27,270,000

  • 279-301 Lincoln Rd, Henderson - $27,000,000

  • 11 Coliseum Drive, Albany - $26,700,000

  • The Warehouse, Albany - $26,400,000

  • Farro Fresh/ASB Constellation Dr - $25,500,000

  • Hamilton Bulk Retail Investment - $23,750,000

  • LEP  Childcare Portfolio - $20,775,000

  • Noel Leeming, Wairau Park - $19,000,000

  • 5 The Warehouse Way, Northcote - $19,000,000

  • 13 William Pickering Drive, North Harbour - $17,300,000

  • 16 Dinning Road, Riverhead - $16,500,000

  • 151 Lincoln Road, Henderson - $15,250,000

  • 51 Corinthian Drive, Albany - $15,150,000

  • 50 Centreway Road, Orewa - $15,100,000

  • 7-21 Kawana Street, Northcote - $14,998,100

  • 550 Te Irirangi Drive, Botany - $14,200,000

  • PlaceMakers, Albany - $14,000,000

  • 24 Oteha Valley Rd Extn, Albany - $13,300,000

  • 217-227 Archers Rd, Wairau Valley - $13,250,000

  • 44 Arrenway Drive, Mairangi Bay - $13,117,116

  • 3 Monahan Road, Mt Wellington - $12,680,000

  • 155 Wairau Road - $11,500,000

  • Rapid Labels HQ, Albany - $11,400,000

  • 119 & 121 Onewa Rd, Northcote - $10,250,000

View expert

Matt Prentice

Director

Auckland North

Matt joined Colliers International in 2006 with a focus on mid to upper end industrial & investment transactions.  Specialising in tenanted investments, occupier representation through to vacant land / building sales on the North Shore, Matt was promoted to a North Shore Director in 2015.

In 2011 and 2012 Matt was awarded the "Golden Gavel" for Colliers New Zealand as the most successful auction sales broker across Colliers New Zealand. Matt has been the number one North Shore sales and leasing broker, 2011, 2012 and 2013.  In 2012, was a top 20 performer across Colliers New Zealand and has over $550 million of sales since joining colliers International.

In 2013, Matt was in the top 10 Highest Performing Brokers Nationwide and in 2014, he had a record year completing more than 50 transactions, and  finished in the top 10% of brokers in New Zealand.

In 2015, Matt completed over 60 transactions, more than any broker North of the Bridge, again finishing in the Top 20 brokers in New Zealand.

In 2016, Matt had a record year finishing top 10 in the country and was the top broker on the North Shore. 

View expert

Matthew Barnes

Director | Investment Sales

Auckland South

View expert