"This specialist asset provides a great long-term investment prospect for those looking to reinvest funds or cement their portfolio position," he says.
"The property has a new 10-year lease to national childcare operator Evolve Group, a market leader in education with over 120 centres nationwide.
"It is earning $159,120 in net annual rent, with three, five-year rights of renewal, fixed annual Consumer Price Index rental growth, and market reviews on renewal."
Situated on a single freehold title, the property comprises a significant land holding of 1799sq m with a building area of about 400sq m.
Chand says the centre features modern construction and provides an excellent outdoor space, with 592sq m of outdoor play area for children.
"The centre is particularly well designed and resourced to the highest quality with all the latest equipment to engage children, and caters for ages three months through to five years.
"The centre is licensed for 68 children and features 15 car parks for drop off and collection purposes."
The property has underlying Residential 2 zoning, with specific land use consent to operate a preschool facility.
"Located only 15 minutes north of Christchurch, Kaiapoi is just a short commute from the city, but provides a way of life with qualities that are not easily attained within a cityscape," says Chand.
"The riverside town has enjoyed a resurgence in the last few years with the development and revitalisation of its town centre. Kaiapoi is now poised to be the preferred residential option north of the city."
"With new public amenities underway including a library and museum, town square and shops, landscaping, and sensitive development of its natural features, this historic town is well prepared to serve its community.
"We expect to see this investment opportunity in North Canterbury snapped up due to its valued location and the high-quality of the modern centre itself," Chand says.
