2 Coronation Road, Papatoetoe, Manukau City

2 Coronation Road, Papatoetoe, Manukau City Corner Site – Passive Income

Colliers has been exclusively appointed to market 2 Coronation Road, Papatoetoe, Auckland. The property is offered for sale with an Asking Price of $2,150,000 + gst (if any).

 

2 Coronation Road, Papatoetoe is converted childcare centre currently licensed to accommodate 50 children. The premises is fantastically located having three road frontages with high level of exposure. The Papatoetoe Train Station is directly across the road further adding to the site's visibility. The 865sqm freehold corner site is Business - Town Centre zoned proving to be an excellent land bank.

 

Returning $130,000 pa net + GST and OPEX, this offering features a new 12 year lease term plus further ROR's and a final lease expiry in 2052, as well as annual rental increases and market reviews throughout the lease.  Childcare investment properties are highly sought after given their fantastic tenant covenants, premium landholdings and long term investment fundamentals.

 

Founded over 25 years ago by Wayne and Chloe Wright, Best Start is a registered charity and is New Zealand's largest provider of quality education and care with over 15,000 children attending one of its 270+ centres daily, and a team of 4,500 dedicated teachers and support staff. This year BestStart won the Reader's Digest Most Trust Brand award in its category for the third year in a row.

Features:

* Returning $130,000 pa net + GST & OPEX

* Market leading tenant - BestStart Educare Ltd

* 12 year lease + ROR's. Final Expiry in 2052

* Annual rental growth + market reviews

* 865sqm freehold corner site

* Business - Town Centre Zoned

* Sole Agency - call now to register your interest