Bridport banks $8.2m from childcare centre

Kids Club signed a 15 year lease at the Ringwood East property.

Bridport Property Group has sold another new childcare centre – this time in Ringwood East.

The 117-place complex at 30-32 Grey Street is trading for $8.2 million.

It is an investment – rented to Kids Club, which pays annual rent of $450,000, on a lease expiring in 2035 with options.

Bridport constructed the centre on a 1677 square metre site acquired in 2017 – formerly two homes.

“This is a solid outcome for an off-market transaction which reflects the current strength of the sector as well as the great location adjacent to the Maroondah Private Hospital,” director, Tom Shelton said.

“We were well supported by our capital partner Barwon Investment Partners, backing us to ride the storm and sell into what has become a strong market for assets housing high quality essential service operators” (story continues below).

CBRE Healthcare and Social Infrastructure’s Sandro Peluso, Josh Twelftree, Jimmy Tat and Marcello Caspani-Muto were the agents.

They said ongoing government support “has seen the sector emerge better off than most” post COVID.

“We are now seeing many investors set their sights on early learning centres for 2021,” Mr Peluso added.

The buyer of Ringwood East is understood to be an offshore investor.

In late 2019 Bridport sold a new childcare centre in inner north west Kensington for $8.25m.

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Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco