Purpose-built investment property in booming Waiuku
The property at 18 Martyn St is tenanted by childcare provider Little Ants.
JLL is marketing a new purpose-built childcare centre, which is for sale in Waiuku.
The 316sq m property is on a 1012sqm site at 18 Martyn St, tenanted by childcare provider Little Ants. This tenant has a 10-year lease from January 2016, with two rights of renewal of 10 years each.
JLL agents Alex Wefers and Everett Jaura are marketing the freehold property through an expressions of interest process. The process closes on August 11 at 5pm.
“The property brings in $130,000 pa in net rental and rent increases are written into the annual review,” Wefers says. “This centre is licensed for 60 children, including 15 under-twos.”
“Many Auckland families are choosing to move further away from the city in search of cheaper property, larger sections and the country lifestyle. It’s possible to drive from Waiuku to the city in 50 minutes if you avoid the peak traffic times,” Jaura says.
Located 40km southwest of Auckland city, the property is just 500 metres away from Waiuku’s main shopping and commercial centre and borders a residential area.
“The town supports local farming and is also home to many employees of the nearby steel mill at Glenbrook. It’s an area that is forecast to grow quickly over the next 10 years. The population within a 10km radius is forecast to increase by 23 per cent between 2018 and 2028,” Jaura says.
“Over the same period, the population of the Auckland region is forecast to grow by 15 percent and New Zealand’s total population by 9 per cent.
“The Franklin Local Board area is forecast to grow by 24 percent over that time,” he says.
The property has two street frontages with the main entry from Domain St.
The single-storey building has been designed with all of the necessary spaces for childcare in mind.
“There is an 84sq m room for the pre-schoolers, a 42sq m room for the toddlers, another 42sq m room for babies and an 11sq m room for nap time,” Wefers says.
“The property has all of the necessary amenities including a kitchen, bathrooms, storage, parking and, of course, outdoor play areas.
“An astute investor will instantly recognise the upside potential here. As a business, a childcare centre has good, stable cashflow. The location allows the investor to participate in and benefit from Waiuku’s growing appeal and rapidly rising property values,” Jaura says.