CONTENTSPROPERTYINFORMATIONMEMORANDUM 251B WAIHI ROAD, TAURANGA
CONTENTS • INTRODUCTION • EXECUTIVE SUMMARY • PROPERTY OVERVIEW • THE LOCATION • TENANCY SCHEDULE • THE TENANT • PHOTOS • SALES PROCESS • STATEMENT OF GENERAL POLICY/DISCLAIMER APPENDICES CERTIFICATE OF TITLE DEED OF LEASE LIM REPORT
INTRODUCTION Favoured as agents by our client, Success Realty Limited MREINZ trading as Bayleys Tauranga, Licensed under the REA Act 2008, is proud to offer the property at 251B Waihi Road, Tauranga for sale by Auction at 1pm on Wednesday 13th April 2016 Significant attributes of this property include: Consented for Childcare Centre up to 59 children Established National Tenant - been in situ since February 1997 Two converted residential buildings, garage & storage shed Large 1,436m² residentially zoned lot Returning $58,500.00 + GST per annum Main arterial route location
EXECUTIVE SUMMARYFORMAL ADDRESS251B Waihi Road, TaurangaLEGAL DESCRIPTIONLot 1 DPS 69129CERTIFICATE OF TITLESA55C/54LAND AREA1,436m² (more or less)BUILDING AREA302.2m² (approximately)TENUREFreeholdZONINGResidentialVALUATION REFERENCE6699/15801RATING VALUATION AS AT 1 JULY 2015Land Value $400,000.00Improvement Value $605,000.00Capital Value $1,005,000.00TENANCYBestStart Educare Limited (formerly Kidicorp)
PROPERTY OVERVIEWAREA1,436m²ZONEResidential AACCOMMODATION 122.3m² 115.2m²Converted dwelling one:Converted dwelling two: 47.1m²Double garage: 17.6m²Storage room:FLOOR LAYOUT ETCGenerally the two dwellings are open plan offering usual amenities conversantwith the running of childcare servicesOTHER IMPROVEMENTSFully sealed drive and parking, concrete paths, timber decks, fully fenced with alarge yard.CONSTRUCTIONDwelling One: Timber piles, floor & frame, PVC cladding, aluminium joinery &coloursteel roofing.Dwelling Two: Timber floor & frame, timber weather board, aluminium joinery &corrugated iron roof.LOCATIONSituated at the top of Waihi Road, one of Tauranga’s main arterial routes, theproperty opens itself for continued investment property, residential or futuredevelopment.
THE LOCATION – (1)The property is located at the top of Waihi Road, one of the arterial routesheading West from Tauranga toward Katikati.The zoning is Residential 9A and is resource consented as a Childcare Centrefor up to 59 Children.There is a Right of Way to the left of the property which should allow any futuredevelopment of the property to have dual access.Surrounding the subject premises are the main residential dwellings with a shortdistance to what is known as the Summit Shopping Centre which comprises aservice station, superette, takeaways and a motel.From the top of the section there are good views through to the Kaimai Range.Situated at the top of Waihi Road, one of Tauranga’s main arterial routes, theproperty opens itself for continued investment property, residential or futuredevelopment.
THE LOCATION – (2)The harbourside city of Tauranga is the main urban centre for the Bay of Plenty region, withthe popular seaside resort town of Mount Maunganui located just a short drive away acrossthe harbour bridge. The landscape is dominated by two key features – the harbour and themagnificent Mauao (Mount Maunganui), the cultural focal point of the region.The Bay of Plenty region is the second fastest growing region in the country, and Tauranga isthe economic hub of the Bay of Plenty. Tauranga City experienced population growth of 33%from 1996 to 2006. The wider region also experienced strong growth over the same period.According to Statistics New Zealand Census Data, the Bay of Plenty population grew by14.7% over ten years from 1996 – 2006. It is the home of New Zealand’s largest internationalexport port and is strongly supported by sea, rail and air links.Tauranga is the primary business centre of the region whilst Mount Maunganui is itsrecreational centre, with a strong industrial sector located around the Port of Tauranga.The Tauranga region accounts for 45% of the Bay of Plenty economy with key economicelements for the region including tourism, horticulture, viticulture, kiwifruit, pastoral farming,housing and exporting.A major upgrade of Tauranga’s central roading network was undertaken which includedconstruction of a second harbour bridge, immediately adjacent to the existing two lane bridgeand widening of the roads which feed onto the bridge from either direction. This has providedquicker and more efficient access that will facilitate further growth in the area. Anotherinfrastructure improvement is the development of an eastern link, which will run from theintersection of State Highways 2 and 29 and Bayfair eastward to Paengaroa. Construction ofthe road will provide safer and quicker road travel between the tourist mecca of Rotoruathrough to Mount Maunganui and Tauranga.
TENANCY DETAILS BestStart Educare Limited (formerly Kidicorp)Term of Lease Five (5) yearsCommencement Date 1st February 2009Rights of Renewal Two (2) of five (5) yearsRenewal DatesFinal Expiry Date 1st February 2014 & 1st February 2019 (one exercised and one remaining) 31st January 2024Net Rental $58,500 + GST per annum
THE TENANTTenant - BestStart Educare LimitedThe tenant, BestStart Educare Limited, have run the premises as a daycare centre consentedfor up to 59 children. More latterly they have changed the business model on the premises asthe Administration Centre for their “Kids at Home” brand whereby child carers operate ahome based program and have daily playgroups at the centre where child carers bring thechildren in and are assisted by the educators in caring and nurturing the children.Formerly known as Kidicorp Limited, the first childcare centre in Tauranga in 1996.Today, BestStart has grown into one of New Zealand’s largest private provider of earlychildhood education. They are a New Zealand owned company with nurseries, preschools,kindies, Montessori and home-based childcare services nationwide. BestStart is owned by theWright Family Foundation, a registered charitable trust, and is the umbrella organisation forover 240 childcare centres, operating under nine main brands from Kaitaia to Invercargill.What all their centres have in common is their nurturing attitude and commitment to ensuringeach child is cared for and supported in a warm, friendly and positive environment. All of theircentres have excellent staff to child ratios, trained, qualified and caring teachers, qualityequipment and toys and a safe and attractive learning environment. BestStart Fact Sheet• Licensed to educate and care for a maximum of 15,000 full time children daily – 18,000 families use BestStart services annually.• They have 183 centres in the North Island and 60 in the South Island. The centres are based in large cities and small provincial towns, and are located from Kaitaia to Invercargill.• They run teacher:child ratios of 1:4 for under 2’s, and 1:8 for over 2’s. Many centres have additional staffing to meet specific needs and allow ample time for teachers to prepare for lessons and develop children’s individual portfolios. MOE regulations are 1:5 and 1:10 respectively.• Each centre is managed by a Centre Manager who reports to an Area or Business Manager.• Te Whāriki, the national Early Childhood Education curriculum, is used in all centres.• Have over 1,700 permanent teachers nationally. In addition they have a pool of approximately 200 casual (temporary) staff.• Over 90% of the permanent teaching staff are either fully qualified with a Diploma or Bachelor of Teaching (ECE), or higher, or are in training. These figures are very high by national standards within the ECE sector.• In addition, they provide a two year Advice and Guidance Programme for all recently graduated teachers so that mentoring and further training is provided post graduation; this supports teachers from provisional registration to full teacher registration with the NZ Teachers Council.
PHOTOS
PHOTOS
SALES PROCESS + CONTACTSThe property at 251B Waihi Road is being offered For Sale by Auction at1pm, Wednesday 13th April 2016 (unless sold prior).Bayleys Auction Rooms247 Cameron Road, Ground Floor, TaurangaSuccess Realty Limited MREINZ trading as Bayleys TaurangaLicensed under the REA Act 2008THE INFORMATION MEMORANDUMThe purpose of this Information Memorandum is to provide information in relation tothe property that is available. It is produced solely as a general guide for interestedparties. It does not constitute valuation, legal or consultancy advice.This document is strictly confidential to the recipient and information contained hereinmay not be disclosed to any other party and it may not be used or reproduced eitherin whole or in part without the written consent of the vendor or the selling agents.All areas, dimensions and measurements referred to in this Information Memorandumare metric and prospective purchasers should confirm these during their duediligence.INSPECTIONSAll inspections of the properties by a purchaser and/or consultants are to be by priorappointment, and arranged through the Bayleys Agents.SOLE AGENTGraeme ColemanBus: 07 579 0602Mob: 0275 741 610Email: [email protected]
GENERAL DISCLAIMER • This report and the particulars contained herein do not form part of any contract. • Whilst due care has been taken in the preparation of this report, no representation is made and no responsibility is accepted for the accuracy of the whole or any part. Interested parties are advised to make their own enquiries and satisfy themselves in all respects. • Neither the whole nor any part of this report or any reference to it, may be included in any public document, circular or statement, without our written approval of the form and context in which it would appear. • This report does not purport in any way to be a structural or geological survey of the buildings and properties and we accept no responsibility in respect of such matters. It is assumed the land provides a stable building platform, and that the improvements all lie within the title boundaries and that there is no liability within the terms of the Resource Management Act or Building Act. • Any sketch plan or map in this report is included to assist the reader in visualising the property. We have made no survey of the property and assume no responsibility in respect of such matters. It is assumed all improvements are within the title boundaries. • Information about and measurements of buildings have been provided as a guide only and derived from existing records. No undertakings are made as their accuracy no responsibility accepted by the Vendor or agent in respect of their accuracy. STATEMENT OF PASSING OVER: • This information has been provided by or on behalf of our client. It is made available by us in good faith. However, to the extent that a recipient relies on any of this material, the recipient does so at their own risk. We will not be liable in any way for any incorrect or incomplete information in this material and no recipient will have any claim against us arising from any information contained in or omitted from this material. A prospective purchaser should obtain advice from his or her own Lawyers before entering into any binding contract.
CERTIFICATE OF TITLE
CERTIFICATE OF TITLE
DEED OF LEASE
LIM REPORT
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