NAI Harcourts is excited to bring to the market, for the first time in 12 years, this well-established Childcare property located at 31 Thorburn Avenue, Red Beach on the Hibiscus Coast. This an excellent opportunity for an investor familiar with residential properties but keen on commercial. This tenanted investment is occupied by a boutique Early Childhood Education Centre 'Hannah's House'. Established on the property in 1989 and licensed for 34 children with up to 15 children under two, this popular Centre has a passion for Reggio-based teaching while focusing on caring for the environment. Situated close to the Red Beach Shopping Centre and located right next to a reserve and an easy commute to Orewa, this is a popular suburban area experiencing ongoing residential intensification further growing the catchment of families seeking local childcare services. Comprising a 706m² site, zoned Residential - Single House, the property consists of a converted 1970s dwelling connected via covered decking to an additional rear building. Proposed Plan Change 78 (Intensification) will potentially re-zone the site to a Residential - Mixed Housing Urban Zone. Returning $72,488 p.a. + GST + outgoings, the current lease commenced January 2008 and expires December 2038 (inclusive of renewals). Key Features: - Returning $72,488 p.a. + GST + Outgoings - Long-term lease to an established operator - Personal guarantees - Close proximity to Red Beach/Orewa Town Centre - Three car parks with ample street parking 31 Thorburn Avenue will be of interest to investors seeking a passive investment leased to an established long-term tenant. For more information and an appointment to view this property, please contact the Sole Agents. NOTE: all outlines in images are indicative only