Prominently placed in a highly visible location in the wealthy Auckland suburb of Coatesville, a brand-new childcare centre is being presented to the market for sale offering buyers the opportunity to secure a stake in one of the country’s most sought-after asset classes.
302 Coatesville-Riverhead Highway, Coatesville is home to a 598sq m early childhood education centre that sits on a 1,968sq m freehold site that is zoned Business – Neighbourhood Centre Zone under the Auckland Unitary Plan.
New Shoots Children’s Centre is the tenant, and the facility, which is consented for 95 children, will be operational before the end of the year.
New Shoots have an initial lease term of 18 years with two further rights of renewal for six years each leading to a final expiry of October 2052.
Start your property search
Their lease agreement provides $321,100 plus GST in annual rental income and there are annual CPI reviews and four-yearly market rent reviews in place.
Coatesville is an affluent rural community approximately 30km north-west of central Auckland and the subject property is strategically located near local cafes, a market, and Coatesville School.
Colliers Directors Shoneet Chand, Matt Prentice, and Jimmy O’Brien have been exclusively appointed to market the property for sale by deadline private treaty closing at 4pm on Wednesday 26 October, unless sold prior.
Chand, Director of Investment Sales at Colliers, says the length of the lease term will be highly appealing for buyers looking to acquire a passive investment with a strong tenant covenant.
“New Shoots occupies 17 sites across the North Island and are highly respected in the early childhood education sector due to their integrity and community-focused approach,” Chand says.
“With a long-term lease in place and annual CPI reviews, the property provides outstanding investment fundamentals and continued rental growth.
“Childcare centres are a keenly sought investment among buyers and this property would make an outstanding addition to any portfolio.”
Prentice, Director of Sales and Leasing at Colliers, says the property shapes as a low maintenance asset that has been expertly crafted.
“Designed with the area’s rich history of kauri logging and gum digging in mind, the centre’s interior decor boasts warm earthy tones and natural materials,” Prentice says.
“The building is passively designed for natural light and ventilation and like all of New Shoots’ centres, it has been developed by architects and spatial designers.”
Coatesville has experienced ongoing population growth during the past 15 years and the area grew by nearly 18 per cent between the 2006 Census and the 2018 Census. The area had an estimated population of 2,480 in 2021.
Westfield Albany is a 10-minute drive away and offers considerable shopping opportunities and amenities for Coatesville residents.
O’Brien, Director at Colliers Auckland North, says this childcare centre will provide excellent service to a rapidly expanding community.
“Located in the main village area, the centre is planted between two popular local cafes, the Black Cottage Cafe and Fernielea Cafe,” O’Brien says.
“Nice and close to the local school, the centre has been developed with high standards in mind. Coatesville is the optimal spot for families seeking countryside living less than 30 minutes from Auckland’s CBD.
“Buyer interest remains consistently strong for purchasing opportunities in this asset class and we encourage all interested parties to contact us immediately.”
The Business – Neighbourhood Centre Zone applies to single corner stores or small shopping strips located in residential neighbourhoods. They provide residents and passers-by with frequent retail and commercial service needs.
- Article supplied by Colliers
