199 Beach Haven Road,
Beach Haven, Auckland
Key Highlights:
- Newly constructed childcare center located in desirable Beach Haven
- Leased to the biggest childcare operator in New Zealand, Best Start
- Lease Term: 15 years + 10 years + 10 years
- 1,926 sqm freehold site
- 766 sqm standalone building
- Returning $338,000 p.a. + outgoings + GST (after four-month ramp-up incentive)
Development Timeframe:
Phase 1: Set up a limited partnership, to settle the property, and then to obtain the resource consent and building consent; the targeted investment period is 12 months.
- Uwin Capital No1 Limited Partnership ("Uwin No1 LP”) purchased the land in December 2019
-- General Partner: Uwin Capital Limited, who manages this project
-- NZREIT Unit Class B is the majority partner of Uwin No1 LP - Resource content (125 children childcare centre) was lodged in April 2020 and granted in November 2020
- Building content was lodged in August 2020 and granted in March 2021
- Targeted return for Phase 1: 10%
Phase 2: Construction, handover to the ECE operator, the targeted investment period is 12 months.
- Contractor: PINK Construction Limited
- Construction was commenced in March 2021 and expected to be completed in January 2022
- Projected handover date: 1 February 2022
- Targeted return for Phase 2: 20%
*NZREIT Unit Class A is aiming to acquire this project from Uwin No1 LP in March 2022.
