Our project New Shoots Children’s Centre/Source Café, Pakuranga (Auckland) is up for sale.

The NZ Herald dated 17th May covers the story: “The purpose-built, architecturally-designed property, housing a premium early childhood centre and cafe as its long-term tenants, is for sale in Pakuranga.

“This state-of-the-art centre is an excellent long-term investment proposition,” says Jimmy O’Brien of Colliers International who, with colleague Peter Kermode, is selling 149 Cascades Rd by deadline private treaty closing at 4pm on May 31 unless it sells earlier by negotiation.

The 750sq m building and 8675sq m property generates total annual rent of $415,860 from a new 15-year lease to New Shoots, a boutique early childhood centre operator paying $340,860 per annum; and Source Cafe on a five-year lease earning $75,000 per annum.

“Since opening, both tenants have been trading above expectations making this property an ideal split-risk investment opportunity,” O’Brien says.

The freehold cross-leased site is zoned Business under the operative Manukau District Plan.”

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