5 Churchill Avenue, Manurewa, Auckland 2102

FOR SALE:
OPPORTUNITY NOT TO BE MISSED!
It is now time to move quickly to present an offer for the vendor to consider.

An excellent opportunity to purchase this tenanted investment property. The current tenant is a well established national childcare business with an excellent occupation rate. A new 12-year lease to commence from sale settlement date with 3 x 6 year rights of renewal. There is no shortage of car parking at this centre allowing parents the freedom to drop off or collect their children.

Located in Churchill Avenue Manurewa at the Weymouth Road end, the site is conveniently close to shops and eateries including Southmall shopping centre, which offers excellent amenities and eateries in abundance, including Countdown Supermarket, McDonald's and Village Wine & Spirits. The suburb is progressively being upgraded with new housing being built throughout this thriving family oriented area.

Currently a schedule of works is in place with upgrades to the property which will include repair of the car park and garden refurbishment. The reception area will be upgraded and the play ground carpet will be replaced. The exterior of the building will be repainted. These upgrades will enhance the building internally and externally and will be an improvement to the asset.

Key Features:
- Nationwide established childcare centre tenant
- Licensed for 122 children
- New 12 year lease
- Returning $311,100.00 net per annum
- Asking price offers a net return of circa 5.4%
- Guaranteed rental growth
- Huge 3,192m² freehold site (more or less)
- Close proximity to Southmall Shopping Centre
- Large car park with ample parking
- Residential upgrade developments within the area
- Close to town centre, schools, buses, and motorway access

For more information and an appointment to view this property, please contact the agent at NAI Harcourts Cooper & Co today. Property ID: #NSC38846