Investors outlay $59.6m on 11 childcare centres
Investors spent $59.6 million on 11 childcare centres last week.
The best performing asset in terms of yield was in Raymond Terrace, north of Newcastle.
A four-level Brisbane CBD complex – on 816 sqm – was the priciest, achieving $10.15m.
The deals come a week after Assembly and Harrington paid $42.95m for a portfolio of six child minding assets – all in Sydney’s north west.
Eleven childcare centres collect $59.6m
The only New South Wales asset – Lakeside Creative Minds ELC & Preschool at 89 Benjamin Terrace in Newcastle’s Kelso – traded at the lowest net return – 4.67 per cent (story continues below).
It was one of four childcare asset deals Cushman & Wakefield were responsible for – the others are at Parkes (ACT), and in Queensland, in Brisbane’s Taigum and the Gold Coast (Coomera).
Burgess Rawson offloaded four as part of a bulk auction event last week – two of these were in Victoria including 57-59 Stud Rd, Dandenong, which achieved $7.63m, and 24 Glenelg Drive in Bendigo’s Maiden Gully ($3.95m).
CBRE Social Infrastructure and Healthcare sold a Story House Centre backed property at 1 Whitford Way, Doreen, for $7.375m – a five pc yield.
The agents were Sandro Peluso, Josh Twelftree, Jimmy Tat and Marcello Caspani-Muto.
