Investor buys childcare centre sight unseen
Accord Property has sold a new childcare centre in Brisbane’s south west.
Following an off-market campaign, an interstate investor, sight unseen, made the highest offer – $9 million, a 5.4 per cent net passing yield – for the Bask Early Learning complex at 499 Waterford Road, Ellen Grove.
On 5483 square metres – just over half a hectare – with 120 places, it contains 26 car parks.
Bask opened September. It is the operator’s fourth facility. All are in Queensland.
“Newly built childcare centres across key growth regions of Australia’s capital cities are garnering a lot of attention,” Stonebridge Property Group’s Tom Moreland, who brokered the deal, said.
“Fundamentally, they are often positioned in prime childcare demographics, whereby dual income families are highly represented,” he added.
“This coupled with large landholdings and secure cash flows available via long term leases, is driving demand across the sector,” according to the executive.
Also today we are reporting Woolworths’ development arm Fabcot bought a site at Narangba, 35 kilometres north of Brisbane, from the Catholic church (continues below).
Growth corridor
Ellen Grove is 18 kilometres from the CBD.
Ipswich is about the same distance, but west.
“Interstate capital flow continues to be a key thematic witnessed by our team with southeast Queensland remaining an investor favourite,” co-agent, Thomas Proberts, said.
“The medium to long term growth prospects of the Brisbane market is particularly exciting and very appealing to ‘set and forget’ style investors both locally and from across the country,” he added.
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