A local is paying $4.65 million for a childcare centre investment on the ground floor of Risland’s new Ryde Garden complex in Sydney’s north west.
The North Ryde asset, 2-5, 1 Network Place, is trading on a 6.5 per cent yield.
Kids Planet Academy occupies the 1106 square metre property with an outdoor area.
It also includes 12 basement car parks.
In about 2030, the tenant will receive the first of its two 10 year options.
Savills Metropolitan & Regional Sales’ Nick Lower, Selin Ince and Oliver Ridley represented the recently rebranded Risland, owned by Hong Kong listed Country Garden.
The agents said “despite the perceived concern for the childcare industry over the past six months, this transaction is a great indicator of the strong investor appetite currently seen in the market for well-located assets with secure income streams” (story continues below).
Local office occupancy forecast to double: agents
Ryde Garden contains 830 dwellings.
It is next door to Macquarie Business Park – where 45,000 people work, a number set to double by 2040, according to the agents.
Office occupiers in the area include Optus, Oracle, ORIX, Microsoft and Siemens.
North Ryde is about 13 kilometres from the city.
Network Place is less than 100 metres from the suburb’s metro station.