Hobsonville childcare centre on long lease
A recently built childcare centre for sale in Hobsonville has a 15-year lease to a top early childhood education provider.
Licensed for 125 children, New Shoots Hobsonville was operating at near full capacity after opening in April 2018.
Colliers International brokers say the freehold property at 102A Hobsonville Rd is for sale by deadline private treaty closing at 4pm on April 3, unless sold earlier.
Shoneet Chand, who is marketing the property with colleagues Josh Coburn and Craig Smith, describes a market-leading operation with a new 15-year lease, in a thriving commercial precinct.
“Here’s the opportunity to secure one of the finest childcare centre properties operating in Auckland, one with stunning architecture, stylish fitout and superb investment fundamentals.”
The property has a 694sq m building with a 790sq m outdoor play area on a freehold site of some 2,036sq m, subject to subdivision.
Chand says Herbst Maxcey Metropolitan Architects designed building is close to Hobsonville Primary School, which is ideal for growing families with both preschool and school-aged children. “It is operated by New Shoots, one of the fastestgrowing providers within the established and stable early childhood education sector.”
New Shoots is signed to a new lease, returning $390,000 plus GST in net annual rent. Market rental reviews are every four years, with inflation-indexed rental reviews every year in between. Two rights of renewal of eight years each extend the final lease expiry date to April
2049.
Josh Coburn says the property offers strong tenant covenant, with a long lease backed by a guarantee.
“New Shoots has an excellent reputation for quality learning, with Education Review Office reports within the top 10 per cent nationwide.
“Established in 2010, the company operates 10 childcare centres between Auckland and the Bay of Plenty, with another seven centres due to open within the next two years. New Shoots is run by three owneroperators with more than 60 years of collective experience within the sector.
“The company also benefits from strong financial backing. The Gillespie Investment Trust purchased a substantial share of the business in
2015, enabling it to expand significantly, while Milford Asset Management’s private equity fund also invested in a large share of the business last year.”
Herbst Maxcey Metropolitan Architects designed the centre using a variety of forms and scales to relate to both the existing residential environment and the new business park in which it sits.
West Auckland Broker Craig Smith says the building’s facade is broken into smaller elements to visually reduce the scale of the building, while the materials are in keeping with both high-end residential and modern business settings.
“The series of sloping roofs are configured to introduce scale, but coupled with a high degree of glazing that allows both natural light and visual permeability through the building.
“Externally cobblestone pavers used in driveway establish a visual cue for drivers to slow down from the asphalt entry area and indicate a ‘shared space’ for cars and pedestrians.
“The garden areas and playground area of the childcare itself visually extend the building and better integrate the building into the landscape.
“Planting is integrated into the car parking areas to soften this area provide visual screening and delineate pedestrian walkways and priority.
“Buyers will instantly appreciate the quality and thought that has gone into this centre and inspections are welcomed on an appointment-only basis.”
The property is located about 20km northwest of Auckland’s CBD and within easy commuter distance of the CBD, West Auckland and North Shore suburbs.
Hobsonville forms part of the Auckland Upper Harbour Local Board and is easily accessed from both the west and the north via SH18.