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.

 

Summary

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

Yield: 5.5%

 

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

 

Why Cambridge?

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.