Artarmon childcare centre fetches $14.8 million
A childcare centre in Artarmon, about nine kilometres north-west of the Sydney CBD, has sold for $14.8 million.
The deal for 60 Dickson Street, to investment company Harrington Property, is the country’s third biggest freehold childcare deal and the biggest to occur since early last year, according to The Australian, which is reporting the sale in this item.
The purpose-built four-storey, 3000 square metre building is selling on a 7 per cent passing yield.
Occupier G8 Education has 14 years left to run on its lease.
The venue is licensed for 149 children.
Peritus Childcare Sales principal Peter Fanous brokered the deal.
In March, we reported that Charter Hall spent $75.5 million on 13 childcare investments on Australia’s east coast.
In Melbourne, major childcare asset deals have been sealed in Bentleigh ($11.8 million). Elsternwick ($11.3 million) and South Melbourne ($10.25 million).
