Offshore investor snares $8.5m Melbourne childcare centre
Two major childcare centre sales were concluded late last month.
In the priciest deal, a Malaysia based investor paid $8.5 million for a near new 116-place complex, in Melbourne’s outer south west.
Leased to Oxanda Education Group arm Bluebird Early Learning for 15 years, or until 2069 with options, the result for 142 Central Parkway, Cranbourne West, reflects a 5.4 per cent yield.
This is the lowest return for an asset of this type over $8m this year, CBRE marketing agents, Sandro Peluso, Marcello Caspani-Muto and Jimmy Tat, said.
The site spreads 1740 square metres at the entrance to the Linc Townhomes estate, with some thousand dwellings, adjacent to Quarters Primary School and within three kilometres of eight more schools, they added.
Over 5300 students are in the pocket, according to the executives, where new housing construction is still taking shape.
Over two floors, the complex opened last October.
Cranbourne West is about 40 kilometres from the CBD.
Record price for strata centre
Meanwhile, a 90-place childcare centre across 565 sqm on the ground floor of a Sydney Olympic Park apartment building sold for $8m.
The result, received two days after auction, is the priciest for an asset of this type in a NSW strata building.
Mini Masterminds is the occupier.
Sydney Olympic Park is 13km west of the CBD.
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