Childcare investment in Whangaparaoa
A brand new Whangaparaoa childcare centre development will appeal to property investors seeking a long- term tenant in one of Auckland’s fastest growing communities.
The high- profile investment opportunity at 841 Whangaparaoa Rd is being marketed for sale by Colliers International brokers Shoneet Chand and Peter Kermode.
The property is featured in the latest issue of Colliers Portfolio, which is available now at colliersportfolio. nz.
Offers on the 895sq m freehold property close on Wednesday, May 31.
Kermode says it is a chance to buy now and settle once the purpose- built childcare centre has been completed.
“This is an excellent opportunity to secure a quality commercial investment in one of Auckland’s most dynamic communities,” he says.
“Whangaparaoa has undergone tremendous growth in recent years, with young families increasingly making the area home. That demographic shift makes an early childcare centre a particularly astute investment.”
Reputed developers Northbridge Properties have been granted consent to build the 50- child centre.
It will be operated by successful early childhood education provider Provincial Childcare, which has signed up to a 15- year lease. The property will generate $ 135,200 in annual rent once the centre is completed, which is expected to be in early 2018.
The lease agreement includes three further terms of five years, plus two further rights of renewal of 10 years.
Chand says the Whangaparaoa Rd centre is being built to specification by a well- regarded developer.
“Northbridge Properties has extensive development experience and the company is focussed on building and selling high quality assets that stand the test of time,” he says.
“Projects of note include the 3M head office on Apollo Drive and a high- quality $ 5 million childcare centre development in Albany.”
Chand says the smaller Whangaparaoa development is a departure from Northbridge’s normal scale of projects, but fits nicely into the developer’s geographical area of operations.
It is ideally positioned on a highprofile stretch of the Whangaparaoa Peninsula’s main arterial route, he says.
“The new centre will be located a short distance from the Coast Plaza, with 25,000 vehicles passing by every day,” Chand says. “Other amenities in the area include Whangaparaoa School, Whangaparaoa College, and several national retailers including Wendy’s, Z Energy, Mitre 10 Mega, McDonald’s and Hoyts.”
Provincial Childcare owns and operates 18 centres, mainly in North Island provincial townships.
It was founded in Rotorua by 2015 EY Entrepreneur of the Year Awards nominee Katie Phillips, who co- owns the business with her husband Andrew. The couple now live in Whangaparaoa.
“We’re excited to open a brand new centre so close to home,” Phillips says. “We pride ourselves on bringing high- quality, affordable childcare to areas outside the main centres.
“Whangaparaoa is such a great, dynamic community to live in, so we’re pleased to be able to give something back.”