Investors still targeting childcare centres
Childcare centres are continuing to find favour with investors despite recent negative industry coverage including this month, a state government child safety report.
In the biggest reported deal last week, a Malaysian investor paid $7.071 million for an Explorers Early Learning backed centre at 24 Scotsburn Grove, Werribee (pictured, top), west of Melbourne.
The result for the 132-place complex, opened last year, with 1152 square metres over two floors and 25 car parks, reflects a 6.1 per cent net passing yield.
The lease agreement includes fixed three per cent rises for the initial term, expiring 2039. With options, the occupier can stay 20 more years.
The 1853 sqm Activity Centre zoned site also has development upside with up to five floors able to be considered.
CBRE’s Marcello Caspani-Muto, Jimmy Tat and Sandro Peluso were the agents.
Last week meanwhile, three centres offered as part of a Stonebridge portfolio auction event, traded for between $2.5-$4.865m.
The lowest yield was for a Pendle Hill, Sydney, Goodstart complex – 3.81pc.
The highest return was 5.45pc for a Growing Tree in Brisbane’s Petrie.
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