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Property fund buys childcare centre for $4.2m

Staff reporters
Wed, 15 Sep 2021

NZ Daycare Properties Fund is banking on daycare growth. (Image: Supplied)
Staff reporters
Wed, 15 Sep 2021

NZ Daycare Properties Fund is banking on daycare growth. (Image: Supplied)

Specialist early childhood education property fund NZ Daycare Properties Fund has paid $4.2 million for its first property in Hamilton.The newly constructed 639 square metre centre, on 1,717 sqm of land at 24 Brent Greig Lane in the suburb of Burbush, is tenanted by daycare operator Rainbow Corner.Fund manager Erskine & Owen forecasts a pre-tax annual return of 6.25% for the fund's wholesale investors, who were being offered 2.7 million units at $1 unit, with a minimum buy-in of $100,000.Erskine & Owen director Alan Henderson said t...

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