Stockland banks $21m for childcare centres
Stockland has sold two recently completed Sunshine Coast childcare centres.
In the biggest deal, Green Leaves Early Learning Birtinya traded for $11.8 million.
The result for the 128-place complex on 3615 square metres reflects a 5.32 per cent yield.
Green Leaves is on a 20 year lease.
Meanwhile, the Goodstart Early Learning centre at 1 Salwood Lane, Nirimba, part of the $9 billion Aura housing estate, traded for $9.27m.
The buyer is an interstate investor.
The result reflects a 5.29pc net passing yield.
It also prices each place at c$70,227.
Stonebridge’s Tom Moreland, Michael Collins, Thomas Proberts and James Fremantle were the agents (continues below).
Stockland sheds Sunshine Coast childcare centres
Completed last year, 1 Salwood Ln contains 946 square metres, on a 3358 sqm block with 37 car parks.
It offers 132 places, according to Goodstart which is on a lease expiring in 2040 with fixed 3.5 per cent annual rent rises.
With options, it can stay until 2060.
Aura is master-planned with 20,000 dwellings.
It is expected to house c50,000 residents.
Birtinya is about 15 kilometres south of Maroochydore. Nirimba is about 12km south-west of Birtinya.
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