Commercial Purchase for a Client
We have recently purchased a commercial daycare property yielding 5.5%, with a recently signed 10 year lease and reputable tenant. The existing clients have an established residential portfolio and were looking to add a property with strong yield as they are nearing retirement.
Through our sister company Point Property, we will manage the property post purchase.
Title: Freehold 2494 m2 – information sourced from Property Guru
Floor Area: 404 m2 – information sourced from Property Guru
Parking: On site – 26 vehicles
Tenancy: $160,000 per annum
Purchase Price: $2,898,000
Why This Property?
+ Experienced reputable tenant/operator
+ Childcare centres are government subsidised community services
+ Offers projected gross yield of 5.5%
+ Recently signed 10 year lease with 2 x 5 year right of renewal
+ Purpose fit-out, recently refurbished
Cambridge is 24kms from Hamilton, a trip made quicker following the recent development of the Waikato Expressway – approximately 15 minutes. Routes north and south on the expressway are accessible from Swayne Road, an approximate 2 minute drive away. Swayne Road is located on the Hamilton side of Cambridge, in a well-established quality neighbourhood. The centre also benefits from its proximity to the grounds of Cambridge High School, which it adjoins to the north.