Modern SDA investment trades for $7.9m
A three year old specialist disability accommodation investment in Sydney’s south west has sold.
The $7.85 million result for the ACARES backed complex, 14 Stanley Street, Croydon Park, reflects an 8.7 per cent net passing yield.
It contains 10 oversized units – rooms average 78 square metres – with kitchens. All dwellings have an outdoor area too – a balcony or courtyard.
The property provides lift and ramp access.
Rent rises
ACARES (Accommodation and Care Solutions) is committed to 14 Stanley St until 2033 with a 10 year option (continues below).
Supported by federal government funding under the NDIS program, rent cannot decrease.
The vendor paid $2.2m in 2020 for the 1027 square metre site which made way for the complex, demolishing a single home.
It was represented for the on sale by JLL’s Dylan McEvoy and Gordon McFadyen.
Croydon Park is about 12 kilometres from town.
Subscribe to our newsletter at the bottom of this page.
