23-25 Norfolk Street Regent, Whangarei District

An excellent opportunity to purchase a tenanted childcare investment property. Educare, is a well established national childcare business with 25 centres and an excellent reputation. Educare Norfolk Street tenants two buildings on two separate titles. The "Over 2's" occupy the original villa which has been modified to suit, whilst the "Under 2's" occupy a purpose built centre. Both have plenty of parking and excellent play areas.

The 12 year lease which commenced in July 2022 with 2 x 6 year rights of renewal secures a consistent long term income. Regular market rent reviews and a 3% annual rent adjustment within the lease terms ensures the rent value remains up-to-date.

Located on Norfolk Street, the site is one of the closest childcare facilities to the Whangarei CBD. The street sits well above the flood plains and tsunami hazard zone and on very stable land.

Investment highlights:

• Nationwide established childcare centre tenant,
• Licensed for 56 children,
• Over 10 years remaining on current lease term,
• Returning $130,593.70 per annum (+ GST) increasing to $134,511 in July '24,
• Guaranteed rental growth,
• 936 sqm over two freehold titles (more or less),
• Close proximity to Whangarei CBD,
• Good car parking, and
• Excellent buildings.

Don't miss out on this opportunity - call Megan (027 346 4194) or John (0272 808 980) to discuss this secure and thriving investment in the childcare sector.