A childcare centre in the tightly held North Shore suburb of Greenhithe presents buyers with the opportunity to acquire a property with a strong tenant covenant in a sought-after asset class.
4 Greenhithe Road, Greenhithe is home to The Cottage Early Learning Centre, which is licensed to accommodate 80 children and was extended and fully renovated in 2021.
With more than 30 years’ experience in the industry, The Cottage provides an inclusive environment for children and the four principles of empowerment, holistic development, family and community, and relationships underpin their approach.
The property has 320sq m of floor space on a 1,598sq m freehold site that is zoned Residential – Single House Zone under the Auckland Unitary Plan.
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The occupants are set to begin a new six-year lease at the property with further rights of renewal. Their lease agreement provides $228,600 plus GST in net annual rental income. There are 2 per cent or CPI annual rental increases, which are capped at 3 per cent.
The subject property is highly visible in the community and is immediately adjacent to the Greenhithe village shops, while Greenhithe School can be reached in less than five minutes.
Greenhithe is an area of the North Shore that has grown considerably since the turn of the century and commercial properties in the suburb are rarely brought to the open market.
Colliers Brokers Ronal Prasad, Shoneet Chand, and Matt Prentice have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Wednesday 8 March, unless sold prior.
With excellent teacher to child ratios, the centre is divided into The Nest, which caters for infants and toddlers, The Kiwi Room that houses toddlers to two-and-a-half-year-olds, and The Tui Room where children from the ages of two-and-a-half to six can learn and develop as individuals through their play-based approach to learning.
Prasad, Investment Sales broker at Colliers, says childcare centres are an attractive asset class for prospective purchasers.
“This particular property has an occupant with a lengthy lease that includes favourable terms, providing built-in rental growth for the future owner,” Prasad says.
“Given the increasing demand for childcare in growing residential catchments like Greenhithe, these properties have a steady stream of attendees.”
Chand, Director of Investment Sales at Colliers, says The Cottage is a long-standing operator in the sector with a strong reputation.
“The Cottage Early Learning Centre follows the national early childhood curriculum of Aotearoa - Te Wh?riki,” Chand says.
“They support children to explore, play, build friendships, and discover interests at their own unhurried pace, while providing them with a warm, safe, and caring place to have fun, laugh, and learn.
“Many of their staff members have worked at the centre for more than 10 years, which speaks to the quality of their business operations in a competitive sector.”
Prentice, Director of Sales and Leasing at Colliers, says this property has all of the key fundamentals of a highly desirable bottom drawer investment.
“When examining all of the pertinent factors in play, buyers will be quick to recognise the long-term growth on offer from this outstanding purchasing opportunity,” Prentice says.
“We encourage all interested parties to contact us immediately to ensure they do not miss out on the chance to acquire this top-quality asset.”
- Article supplied by Colliers
