10-12 Hobson Street represents an excellent opportunity to purchase a freehold property located in a sought after location with a long term lease in place to a proven childcare operator.
The property sits in a central location in St Clair, and is conveniently accessible to a number of surrounding suburbs, including; St Kilda, Forbury, Caversham, Andersons Bay, Musselburgh, South Dunedin, Waverley, and more. St Clair is home to the famous St Clair beach and the St Clair Esplanade which plays host to many popular hospitality businesses.
The property has been extensively renovated/extended to accommodate the childcare operation which is licensed for 60 children. Bear Park is a recognised and established name in the Dunedin childcare sector and has been providing quality childcare and education at the Hobson Street location since 2011. This offering comes with a new 12 year lease followed by four rights of renewal of six years each, extending the lease potentially out to 2058.
•Total site area of 1,484sqm (more or less)
•New 12 year Lease (with rights of renewal thereafter)
•Built in rental growth
•Current rental of $174,000pa plus GST and outgoings
The property is offered For Sale by Deadline Private Treaty closing 4pm on Thursday the 7th of July 2022 (unless sold prior)
Please contact the nominated broker for further information.