A multi-tenanted commercial property anchored by a leading childcare provider has been placed on the market for sale in the heart of Helensville’s town centre.
A single-storey building on the 2,167-square metre freehold site for sale at 14-16 Commercial Road, Helensville, is occupied on a long lease by an early childhood centre run by the NZX and ASX-listed Evolve Education Group. A second building is leased to an established dental practice and a government-backed charitable trust. The three tenancies generate net annual rental income of $271,438 plus outgoings and GST.
The Evolve Education Group operates more than 110 early learning centres throughout New Zealand through brands such as Lollipops, Learning Adventures, Pascals, Little Wonders, Little Earth Montessori and Little Lights. It was voted the country’s most trusted kindergarten centre operator in the 2019 Reader’s Digest Trusted Brands awards. The dual listed childcare operator also operates 20 childcare centres in Australia.
The Helensville property is home to a modern, purpose-built centre operating under the Active Explorers brand. Opened in 2019, it features three separate rooms for children of different ages, including a nursery space for under-twos. The building opens to a substantial, fenced outdoor play area.
The Evolve group pays net rent of $212,160 plus outgoings and GST per annum for its lease of the premises, which can cater for up to 75 infants, toddlers and pre-schoolers. The current lease runs through to 2031, with two further six-year rights of renewal, and incorporates annual CPI rental increases from March 2022 which are replaced by market reviews every six years.
Colliers has been exclusively appointed to market 14-16 Commercial Road, Helensville, for sale by deadline private treaty closing at 4pm on Tuesday 30 March, unless it is sold prior.
Shoneet Chand, Investment Sales Director at Colliers, says the property encompasses two similar sized single-level commercial buildings with a combined floor area of 847 square metres on a single freehold title. The site has ample car parking for staff and clients.
The northern portion of the second building is occupied by Helensville Dental Centre, which pays net annual rent of $21,648.64 plus outgoings and GST on a lease extending to 2022, with three further three-year rights of renewal.
“This dental practice has become an integral part of the local community since its establishment nearly 40 years ago. It offers a wide range of general and cosmetic dentistry and its tenant credentials are underpinned by its nature as an essential medical business with work including WINZ quotes and emergency ACC treatments,” says Mr Chand.
The remaining office space is leased to the Ngā Maunga Whakahii o Kaipara Development Trust, which provides development support to local whānau and communities. This government-backed tenant pays rent of $37,629.58 plus outgoings and GST per annum on a lease running to March 2021 with two further five-year rights of renewal.
Josh Coburn, Site Sales Director at Colliers, says the property and its three commercial tenants benefit from wide main-street frontage to Commercial Road and the site’s Business – Town Centre zoning under Auckland’s unitary plan.
“This zoning aims to support the town centre’s role as a focus for commercial activities and growth. It is designed to encourage a rich mix of activities including commercial, community and civic services and residential,” says Mr Coburn.
“The Commercial Road property’s anchor tenant in particular stands to benefit from the changing demographics of this area, which lies 40 kilometres northwest of Auckland.
“With a population of around 3,000 – rising to 4,500 including surrounding rural areas – this former forestry and dairy stronghold is increasingly becoming a dormitory suburb of Auckland with a growing number of lifestyle blocks.
“The highly accessible nature of the site for sale on the main through-route to Auckland, along with the childcare centre’s extended operating hours, underpin the convenience and demand for the centre among parents commuting to the city.“This desirable location, combined with diverse income streams from essential childcare, medical and government-backed tenants, will make the Commercial Road property of interest to buyers seeking a quality investment-grade asset.”