Melbourne growth corridor Dan Murphy’s, Nido sells for $18m
A new Nido childcare centre and Dan Murphy’s bottle shop in Melbourne’s Pakenham growth corridor has sold for $18.05 million.
Luxury car dealer Nick Theodossi bought the Clyde North asset, 7 Matterhorn Drive, on the south east corner of Thompsons Road – a 5706 square metre holding, part of the Meridian Village estate being delivered by footballer turned developer Fraser Brown.
The result reflects a 5.5 per cent net passing yield.
The blended weighted average lease expiry is 12.6 years.
The buyer may also be able to claim depreciation benefits with over 43pc of the first year’s income tax deferrable.
New development
Meridian Village, being delivered by Brown Property Group, will contain about 3000 dwellings.
The Nido facility is licensed for 104 children.
There are also about 60 car parks (continues below).
“The campaign for Dan Murphy’s & Nido Early School generated strong interest from local, interstate and offshore capital, driven by the scarcity of freestanding investments of this calibre brought to market over the past 12 months,” Stonebridge Property Group’s Justin Dowers, who brokered the deal with Rorey James and Kevin Tong, said.
The agents also recently sold a neighbouring Guzman y Gomez in the estate for $5.9m – a 4.65pc yield.
That buyer was a China based investor.
Meridian’s commercial component also include a recently completed large format retail centre occupied by, amongst others, Jaycar, Petbarn and Supercheap Auto.
This is expected to be sold down too.
Clyde North is about 48 kilometres south east of Melbourne’s CBD.
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