Childcare centre at border of two booming suburbs for sale
A new childcare centre on the border of two outer south east suburbs, with farms in recent years replaced with tens of thousands of low density homes, is for sale.
The Expeditions Early Learning at 45 Dodson Road, Officer, could sell for over $8 million, assuming a sub 5.5 per cent.
Also with 30 car parks, the block’s west boundary abuts Brunt Rd, the suburb divide with Beaconsfield.
“The…centre occupies a substantial 2930 square metre landholding within a thriving education precinct, just 650 metres from Kurmile Primary School and close to five additional schools,” CBRE’s Marcello Caspani-Muto, who is marketing the property with Jimmy Tat, Sandro Peluso and Natalie Couper, said.
“Licensed for 132 long day places, the centre offers significant depreciation benefits and is underpinned by a 10 year net lease to 2034 with options extending to 2054,” he added.
That agreement includes fixed three per cent annual rent rises and a market review at each option.
It presently collects $501,095 per annum ex-GST.
The deal comes just over a week since we reported a Turramurra childcare centre sold for $11.5m – a 4.5pc yield, while another at Castle Hill collected $10m – a 4.54pc return.
Growth corridor
The Dodson Rd asset is about 48 kilometres from town, opposite Banriar Investments’ Beaconsfield Roses Estate, established from c2017.
“Officer is one of Melbourne’s most dynamic growth corridors, with population forecast to surge 61pc over the decade,” Mr Caspani-Muto said.
“This asset combines a long-term lease to a reputable operator, a near new facility and a strategic location within a family-oriented community – making an exceptional investment opportunity,” according to the executive.
Mr Tat added high growth areas like Officer continue to attract offshore capital.
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