Listing #:1677485580

Established City Fringe Childcare Investment

Location: 10/55 Sainsbury Road, Mount Albert, Auckland City, Auckland
Property use: Office
Floor area: 1,208-1208m2
Land area: 0m2
Price: To be sold by auction on 25 Jul
For Sale by auction to be held 11am Wednesday 25th July 2018 (unless sold prior by negotiation).

10/55 Sainsbury Road, Auckland is an established and under rented investment that will represent excellent buying in today’s market.

Superbly positioned in a convenient central Auckland location, the property is known as Lollipops St Lukes and is a proven childcare centre having been successfully operating since opening in 2010. The tenant is nationally recognised and NZX-listed early childhood education operator Evolve Education Group, under its brand Lollipops Educare.

The property occupies the entire top floor of a popular retail and commercial development originally constructed in 2010, positioned on the corner of Sainsbury Road and Morningside Drive, in St Lukes/Mt Albert, Auckland. It has a combined floor area (indoor & outdoor) of 1,208 m² plus 23 exclusive secure basement car parks, all of which is leased to Lollipops.

There is a market rent review due in August 2018, and the current rental is considered comfortably under market. This opportunity to immediately add value will set this property apart from other investments on the market today. And with vendors demanding a result, astute investors really should be seriously considering this offering.

Call the sole agents today to arrange an inspection.

 
Features:
* Market leading tenant – Evolve Education Group
* Current rental $226,000+gst +OPEX below market rates
* Licensed for 100 children
* 23 exclusive car parks
* Established business operating since 2010
* High growth, city fringe location
* Excellent opportunity to acquire a proven investment

Agency reference #: 148565
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To be auctioned
10/55 Sainsbury Road, Mount Albert, Auckland City, Auckland
To be auctioned
Listed: Mon 25 Jun, 9:47 am
Shoneet Chand
Colliers International North Shore, (Licensed: REAA 2008)
  • Contact details
  •  (09) 4884787
  •  (021) 400765

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Agent's details

Shoneet Chand
  •  (09) 4884787
  •  (021) 400765
Kris Ongley
  •  (09) 3589870
  •  (021) 657687
Colliers International North Shore, (Licensed: REAA 2008)
(09) 4884777
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Expires: Sun 18 Nov, 9:50 am
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