The land and building housing a prosperous Coromandel coastal town’s well-established early childhood care facility, as well as a separate modern two-bedroom apartment, have been placed on the market for sale.

The purpose-built and well-maintained property in a suburban quarter of Whitianga is home to Mercury Bay Preschool. Sitting on a flat site with unobstructed street views and dual entry/exit points, the 986-square metre Kupe Drive premise has a substantial customer parking yard for drop offs and pickups.

Mercury Bay Preschool operates Monday to Friday between 8am–5pm with up to seven staff caring for youngsters – providing 20-hours free ECE care for children aged three years and older, and then charging out $7.85 per hour per child being cared for.

Latest Data from the Ministry of Education reports that the number of Kiwi children attending licensed early childhood services increased by six percent in the year to June 2023. Occupancy rates for education and care centres nationally remained at 77 percent amongst survey respondents.

Situated above Mercury Bay Preschool in the 322-square metre building is a comfortable two-bedroom apartment which is sublet by the head tenant. The tenancy within 58 Kupe Drive generates annual rental revenue of $91,950 plus GST and outgoings. The building was constructed to a high standard in 2008.

Mercury Bay Preschool is on a current lease at the property, with three further four-year rights of renewal. The residential component of the property is sublet by Mercury Bay Preschool to a separate tenant.

The freehold land and two-storey building at 58 Kupe Drive on the fringe of Whitianga’s central business district are now being marketed for sale at auction on May 22 through Bayleys Whitianga. Salesperson Josh Smith says that while the apartment is currently sublet by Mercury Bay Preschool, the tenant is open to signing over the residential portion of the premises to any new owner of the property, subject to negotiation.

Smith says that Whitianga’s continuing prosperity and population growth is being underpinned by the recent announcement of a large-scale 21-hectare residential development along Wells Place – sitting adjacent to the town’s existing urban boundary just a few streets back from the golden sands of Buffalo Beach.

Smith was responsible for the sale of the Wells Place development site earlier this year, and says the developer was highly enthused about the town’s long-term economic future.

“With scores of tradies, professionals, and young families coming to Whitianga for employment in the likes of the tourism, hospitality, marine services, engineering and construction sectors, people will need somewhere to live and daycare services such as those provided by Mercury Bay Preschool will be in demand,” he said.

Aligning with Smith’s assessment of the location’s demographics, Thames Coromandel District Council’s Economic Development Strategy Towards 2028 paper, notes: “The Thames-Coromandel area is currently experiencing higher than projected population growth from net migration as people look to districts, such as the Coromandel, for more affordable housing options and an improved lifestyle.”