28 Buick Street, Petone, Lower Hutt, Wellington

A fantastic opportunity to own a hassle-free 'bottom draw' investment with minimal management, with outgoings paid by the tenant who is very committed to the property (took up a nine-year lease last year and requested a further nine years).

The tenant operates in an industry that benefits from continuous government support, with demand growth driven by our growing population and the increasing financial need for both parents to work.

The property's underlying value is protected by the potential for the corner site to be developed into either motels or upscale, high-density housing.

The tenant's business is safeguarded by high building costs and the scarcity of land in this central and popular location, making it highly unlikely for an operator to set up in competition.

Key features are:

• Rental of $206,700 per annum plus GST
• Net lease
• 9-year right of renewal from 7 June 2024
• Hands-on experienced operator - been a tenant since 2012 with four centers; this is the flagship
• Corner site of 1,232 square meters
• Licensed for 70 children
• Off-street parking
• Fitted out to a high standard, including a commercial-sized kitchen and generous staff facilities
• Several sheltered outdoor breakout areas

To receive a buyer information pack and arrange a viewing contact Kevin Dee.