Childcare centre goes up for sale

Media Release

10.6.2019

‘Swings and roundabouts’ for property investors as childcare centre goes up for sale

The land and buildings housing a substantial purpose-built early childcare education centre in one of Auckland’s biggest satellite towns have been placed on the market for sale.

The property at 51 Twomey Drive in Pukekohe is branded under The Playhouse Pre-School trademark, and is one of two childcare centres operated by the company in the street. The centres run daily activities for children ranging in age from infants through to six-year-olds.

The multi-level venue at 51 Twomey Drive encompasses a 234.6 square metre childcare centre sitting on 841 square metres of freehold land zoned Residential Mixed Housing Suburban under the Auckland Council Plan. The building was constructed in 2008 and has been exclusively occupied since that time by The Playhouse Pre-School.

The Playhouse Pre-School business is currently on lease running through to 2020 generating rental of $92,720 plus GST and outgoings per annum, with a further four-year right of renewal. Rental reviews are scheduled into the lease for 2020 and potentially in 2024.

With dual vehicle entry and exit points off Twomey Drive, the property has car parking for eight vehicles, with substantial additional parking immediately outside the pre-school centre on both Twomey Drive, and the Basin Place cul-de-sac.

The building has a new building standards rating of 100 percent, and is licensed to accommodate up to 40 children. The array of outdoor play amenities at the centre are fully fenced in to ensure the safety of youngsters.

The Pukekohe property – but not The Playhouse Pre-School childcare business – is now being marketed for sale at auction at 11am on June 26 through Bayleys Counties. Salespeople Shane Snijder and Peter Migounoff said the site was located in a growing residential portion of Pukekohe – delivering a strong on-going pipeline of potential attendees.

“That urban growth in the Newsham Park suburban part of Pukekohe is one of the reasons The Playhouse chose to expand its operations to two sites within the one immediate vicinity,” Mr Snijder said.

“The modern early childhood structure and fit out of 51 Twomey Drive – being purpose-built rather than a conversion from a former residential dwelling - places The Playhouse Pre-School operation in the top tier of early education centres in Pukekohe.

“Inside, the open-plan layout and design themes of the play space zones, reception areas, staff amenities, food preparation facilities, and bathrooms, all mirror a proven templated model for modern early childhood education centres.”

Mr Migounoff said the property had been well maintained throughout its life said the owner of all three sites had always operated the property assets with a long-term view to consistently underpinning the viability of the tenancies. The centre’s administrative offices are housed in the upper level portion of the building.

Statistics from the Ministry of Education’s 2017 Early Childhood Education Census show that 65.5 percent of New Zealand children attended some form of pre-school or day care centre facility. Auckland had by far the highest average weekly attendance rate – at 23.4 hours.

“The overall attendance rate for children (attending early childhood education facilities) has risen over time. For all age groups, the rate rose gradually in the early 2000s but in recent years the rate for those aged under one, one, and two-years-old has risen more robustly,” said the census report.

There are currently 4,532 early childhood education (ECE) locations in New Zealand – with more than 85 percent run by small independent operators such as The Playhouse Pre-School. The Ministry of Education figures revealed that the number of education and childcare centres such as The Playhouse Pre-School had increased by 35 percent.

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