$695,000 LAND / BUILDINGS
= $1,045,000 TOTAL
Great little centre for sale in the Hamilton area. There is a total current license of circa 24 children (expansion potential here), with and land area of 764 sq/m approx. The centre owners live a fair way away from Hamilton so the centre is run fully managed.
Last year it was struggling but the vendors have injected new life into the business and the centre is currently full and running well. The figures you are buying the centre on are not brilliant with an EBIDT of around $50K. Projected income is circa $120K fully managed or EBIDT.
A working owner would obviously add $50K to this (i.e remove the manager and add yourself thus removing the wage and paying yourself).
Potential to own the Building too with that priced to sell at $695,000. It is a very cute centre (bungalow style) that feels very warm and homely. The Building appraisal is based on rent of $52,000 with a 7.5% yield.
Asking only $295K, this is priced to sell quickly.
Before any information can be released to you about this opportunity, you will need to register yourself at www.barkerbusiness.co.nz/BBS2233 and submit an online Confidentiality Agreement. Brett will be in touch soon after he receives it to discuss the finer details. If living in Auckland and we have not already met, you will need to come and see me at my Albany office to go through the full IM (Information Memorandum) and financials of the business. Please be aware STRICT CONFIDENTIALITY APPLIES.
Licensed REAA 2008. Copyright Barker Business Brokerage Ltd 2018.