Pukekohe childcare on a 15-year lease
A new Pukekohe childcare centre is for sale, complete with a 15-year lease to a proven operator.
Colliers International is marketing
144 Kitchener Rd by deadline private treaty closing at 4pm on May 29, unless sold earlier.
The 2011sq m property is designed to capitalise on the growth of Pukekohe’s population, which Auckland Council expects to double to 50,000 residents, by 2054.
Colliers’ Shoneet Chand sees an opportunity for investors to secure a foothold in the growing and stable early childhood education sector.
“The property has a long lease to a proven tenant, a purpose-built modern building and a location with huge growth potential,” says Chand.
“It is licenced for 105 children and tenanted by established childcare provider Educare, one operating 17 such centres nationwide. Educare has earned a strong reputation since
2005, offering quality childcare with a strong emphasis on family, sustainability and safe natural play.”
Colliers’ Matthew Barnes, says the building was recently completed by Signature Homes.
“Signature has delivered more than 135 childcare developments since 2002. It has been the Ministry of Education’s preferred childcare centre builder for the best part of a decade.
“With such strong developer credentials, backed by solid tenant covenant, this is a truly outstanding long-term childcare property investment.”
The 566.7sq m centre has four activity spaces providing for different age groups, as well as a reception, two offices, staff room, kitchen, storage, laundry and separate staff and children’s toilets.
Three 83sq m activity spaces cater for up to 30 children each. An additional 43sq m activity space, for children under 2, also has a “quiet room” and changing station.
A 124.2sq m covered outdoor area provides access to a larger fenced play area. There is plentiful on-site car parking for staff, as well as child dropoff and collection, at the front of the property.
Pukekohe Educare Ltd is on a bank guaranteed 15-year lease returning $283,900 plus GST in net annual rent, with Educare paying the operating expenses.
Rental growth is fixed at 2 per cent pa, with market rent reviews every five years. Two rights of renewal of 10 years each extend the final expiry to 2053.
The property is only 2km south of Pukekohe Town Centre, near the town’s urban-rural fringe where much residential development is.
Located 50km southwest of Auckland CBD, Pukekohe serves a growing local population, plus wider Franklin District’s Waiuku, Pokeno, Tuakau and Karaka communities.