Peak Equities pays $21m for Beaconsfield childcare centre, office
Peak Equities is paying $21 million for a renovated office and childcare investment in Sydney’s inner-south Beaconsfield.
Vendor Milligan Group offered 20-22 William Street with a rental guarantee covering a commercial tenancy.
The sale price reflects a 6.3 per cent market yield.
The Melbourne syndicate will be able to claim medium term depreciation benefits.
It will be held in a single-asset wholesale fund expected to run between six and eight years, forecasting annual distribution of 7.4pc (story continues below).
The warehouse converted building contains c1100 square metres of A-grade office space over one and a half floors.
A recently created third level 101-place child minding centre is tenanted for 17 years to Green Elephant Early Learning Centre.
Factoring Milligan’s office commitment, 20-22 William St has a 9.7 year Weighted Average Lease Expiry.
JLL’s Dylan McEvoy and Ben Hunter were the agents.
