Property fund buys childcare centre for $4.2m

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

Wed, 15 Sep 2021

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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