Record paid for WA childcare centre

HMC Capital has divested an inner north east Perth childcare centre for $7.2 million – a record for an asset of this type in the state.

The result for the near new Maylands asset, 135-137 Peninsula Road, reflects a yield of just over six per cent.

On 1972 square metres, licensed for 112 children, it is leased to Nido Early Learning School for over 15 years.

“Investors, developers and operators remain active in the market to meet demand in core locations,” CBRE selling agent Sandro Peluso, who represented HMC with Jimmy Tat and Marcello Caspani-Muto, and Sterling Property’s Jake Wallman and Simon Brady, said.

“While land values are naturally lower, operational performance is incredibly impressive as only a few large scale operators have a presence in the WA market,” he added (story continues below).

“Nido Early Learning School is a key example of a leading operator in this space – the majority of their services operating for more than 12 months have over 90pc occupancy,” according to the executive.

Maylands is a riverside suburb five kilometres from Perth’s CBD.

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Marc Pallisco

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