A new purpose-built childcare facility in the fast-growing suburb of Greenhithe with a long-term lease to an experienced industry operator presents prospective purchasers with an exceptional bottom drawer investment opportunity.
45 Greenhithe Road in Greenhithe is a 624sq m building on a 997sq m freehold site that includes a meticulously landscaped 331sq m outdoor area and 11 dedicated car parks.
This perfectly positioned property is located directly across from the Wainoni Park Pony Club, while State Highway 18 is only 500m away with on and off-ramps linking to West Auckland and the rest of the North Shore.
Tenants Neemo Childcare, who also operate successful childcare centres in Hillcrest and Rolleston, will begin a 15-year lease on 20 October with two further rights of renewal for 10 years each with a final expiry in October 2056.
Colliers Directors Shoneet Chand and Matt Prentice have been exclusively appointed to market the property for sale by auction to be held at Colliers North Shore, Level 1, 129 Hurstmere Road, Takapuna, Auckland at 11am on Wednesday 27 October, unless sold prior.
Neemo stands for Nurturing Early Education Moppets Oranga. Their dedicated childcare centres are friendly, warm, and bright places and they strive to provide an environment filled with laughter and fun for children aged 0-5 years.
The centre philosophy is based on Te Whāriki, the early childhood curriculum, and influenced by the Reggio Emilia approach to early learning. Their philosophy is based on five core values, and children are at the core of these values. These values are confident learners, the third teacher, reciprocal learning, togetherness, and inclusion.
Their learning spaces are well thought out and designed to accommodate every child’s individual needs and this property in Greenhithe is licensed to accommodate 64 children. Neemo’s 117sq m group head office is also included in the building.
The net annual rental income for the building is $206,336 plus GST and operating expenses. Annual rent reviews are in place and will be the greater of either 2 per cent or CPI, except on market review dates. Market reviews are scheduled for every five years and are capped at 5 per cent.
Chand, Director of Investment Sales at Colliers, says the building has been expertly constructed and includes a state-of-the-art fit out with an exceptional outdoor area designed for children.
“This is a brilliant new building with outstanding design features and represents a premium bottom drawer investment opportunity given the tenant is an experienced industry operator that runs multiple childcare centres,” Chand says.
“The early childhood education sector in New Zealand benefits from substantial government support and is proving to be a highly sought-after investment class where we have seen continued interest from a wide range of buyers.”
Greenhithe is one of the North Shore’s fastest developing suburbs with consistent population growth during the past decade.
Prentice, Director of Sales and Leasing at Colliers, says the growth of the catchment area means there will be continued demand for childcare facilities.
“The property is in a tightly held location and is only 120m away from Greenhithe School. There’s also a range of other local shops and amenities nearby,” Prentice says.
“During off-peak traffic Takapuna is only 15 minutes away, while Auckland’s CBD can be reached in 20 minutes.
“We encourage all prospective buyers to do their due diligence and contact us immediately as there will be significant interest in such a premier investment opportunity that will provide the new owner with a steady rental stream.”