Colliers has been exclusively appointed to market 174 Ridge Road, Howick, Auckland. The property is offered for sale by Deadline Private Treaty closing 4pm Wednesday 30 November 2022.
174 Ridge Road, Howick is a converted childcare centre licensed for 47 children. The building occupies a large prominent corner-site that offers generous outdoor play areas along with on-site parking. The 1,537sqm freehold corner site is Residential - Mixed Housing Urban Zone underpinning significant value in this fantastic passive investment.
Returning $134,420 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.
The property on offer is a part of a portfolio of nine quality childcare investments across major cities in the country. The properties can be purchased either individually or as a nationally diversified portfolio, opening the opportunity to all levels of investors.
Features:
* Returning $134,420 net + GST & OPEX
* Market leading tenant – BestStart Educare Ltd
* 12 year lease + ROR’s. Final Expiry in 2052
* Annual rental growth + market reviews
* 1,537sqm freehold corner site
* Residential - Mixed Housing Urban Zone
* Offered as part of portfolio – buy one or buy all
* Sole Agency – call now to register your interest