A proven childcare property investment is for sale in one of the most sought-after commercial locations on Auckland’s North Shore.
The 1,912sq m property at 19 Canaveral Drive, Rosedale, comprises a quality childcare centre with a large playground and an abundance of car parks.
The property has been occupied by successful childcare businesses since 2008, with current operator Reach for the Stars offering excellent tenant covenant and the security of a long-term lease.
The property returns $244,933 plus GST in net annual rent, with the current lease term expiring in February 2026 and final expiry in February 2038.
The lease offers fixed annual 2 per cent rental increases and market reviews on renewal.
Directors Shoneet Chand and Matt Prentice of Colliers International North Shore are exclusively marketing the property for sale by deadline private treaty closing at 4pm on Wednesday 19 August, unless sold prior.
Chand says it is a chance to acquire a proven childcare investment with exceptional fundamentals.
“The property is well positioned in one of the most tightly held areas of the North Shore, with a strong catchment providing strong demand for childcare.
“It is one of the most generously proportioned early learning centres in this sought-after area, with a substantial playground and numerous on-site car parks.
“Licensed for 85 children, the well-resourced centre is staffed by a team of dedicated, caring early childhood teachers.
“The centre is housed in a 473sq m single-level building on a generous freehold site with low coverage.
“General Business zoning under the Auckland Unitary Plan provides for a wide range of future options including light industrial and some office, large format retail and trade supply uses.
“Freehold investment offerings in this location are very rare, making this an astute buy for investors seeking a quality property with excellent fundamentals.”
Prentice says the property is located in a quiet crescent with plenty of easy parking and good access, but away from the traffic of the main road.
“Canaveral Drive is located off Triton Drive, which provides a key link to the main arterial of Rosedale Road.
“It is only a few minutes’ drive from the Northern Motorway on-ramp at Greville Road, putting it within 15 minutes of Auckland’s CBD outside peak hours.
“The Rosedale Road Busway Station, which is due for completion in 2021, will be a short walk away. This $70 million project will allow passengers to conveniently transfer between suburban bus services on local roads, and Northern Busway services on dedicated lanes alongside the Northern Motorway.
“The new station is part of the wider $700m Northern Corridor project, which involves widening State Highway 1 in both directions, a new connection to SH18 to link the motorway with the Western Ring Route and airport, and safe new routes for bus users, pedestrians and cyclists.”
Prentice says the surrounding area is occupied by numerous industrial and trade retail businesses, while the wider area has a strong residential catchment.
“This makes the childcare centre highly attractive to parents who live and work in the area.”
The centre is divided into three rooms for infant daycare, toddler childcare and preschool. Its indoor and outdoor areas are well equipped and maintained.
Prentice says Reach for the Stars is an established, privately owned and operated early childhood centre run by hands-on owners Karyn and Bruce Poole
“Karyn comes from a teaching background while Bruce has experience of running his own business as well as working in service industries.
“The couple are frequently at the centre, with Bruce acting as centre handyman and cook when needed, and are backed by a team of dedicated early childhood teachers.
“The centre stands out in the wider Albany/Rosedale market with its excellent teacher-child ratios that exceed minimum Ministry of Education requirements. More than 80 per cent of the staff are qualified teachers.
“Tenant covenant in the childcare sector doesn’t come much better than this, especially in such a well located and desirable area.”
