Office converted childcare centre collects $8.4m

Until 2018, 22 Marie St, Milton, was an office.

Clarence Property has paid $8.435 million for an office converted childcare centre in Brisbane’s inner west Milton.

The three level complex at 22 Marie Street contains 1530 square metres and sits over an underground 22-bay car park.

There is also outside/customer parking; the footprint covers 66 per cent (631 sqm) of the 961 sqm site.

Each floor has an outdoor playground.

The investment is licensed for 120 clients and leased to Edge Early Learning until 2043 (story continues below).

Colliers’ Hunter Higgins and Tom O’Driscoll brokered the sale.

“The deal was struck at a record tight yield of 5.28pc,” they said.

The asset previously traded in September, 2017 – the peak of the last property cycle – for $6.765m.

It was repurposed the year later, with the top floor added.

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Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco