Investors outlay $34m on childcare centres
Six childcare centres sold for a total of $33.992 million at a bulk auction event today.
The priciest, at 322-328 High Street, in Geelong’s Belmont, with a drive-through coffee station, collected $7.6m reflecting a 4.99 per cent return.
The tightest yield – 4.39pc – was achieved for a G8 Education backed asset at 73-75 Tareeda Way, Ocean Grove, the biggest town in the nearby Bellarine Peninsula.
It was closely followed by a centre at 2A-4 Roseberry Grove, in Melbourne’s south east Glen Huntly, rented to Evolve Early Learning (4.4pc, or $6.905m).
This property occupies a 1300 square metre site.
At 85 Bellview Drive, Sunbury, north west of the Victorian capital, a Gumboots Early Learning backed complex (pictured, top) traded for $6.11m (or a 4.94pc return).
Part of the Jackson Hill estate, it is licensed for 112 clients (story continues below).
Genius Healthcare assets
The two non-Victorian centres are both leased to Genius Healthcare.
In Perth, a Hamilton Hill complex at 157 Rockingham Road traded for $5.077m, a 5.5pc yield.
At 855 Ruthven St, Kearney Hills, a pocket of Toowoomba, an investor forked out $5m, reflecting a 5.96pc return.
All properties were marketed by Burgess Rawson’s Natalie Couper and Adam Thomas, with Sean Venables (Sunbury), Craig Chapman (Queensland) and Chris Carcione (Western Australia).
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