Two Guardian childcare centres for sale
Two Melbourne Guardian childcare centres have hit the market – weeks after three Goodstart backed assets in Queensland traded on sub four per cent yields.
The priciest, in Caulfield North, returns $857,688 annual rent.
On 1191 sqm with 29 car parks at 470 Dandenong Road, passed by more than 60,000 vehicles a day, it is leased until 2031 with two 10 year options.
There are 131 places.
The second offering, 31 East Boundary Rd, Bentleigh East (pictured, top), is licensed for 118 children.
On 1598 sqm with 23 car parks, it returns annual rent of $687,459, again on a lease expiring 2031 with options to stay until 2051.
“The site benefits from significant population growth projections of 35pc and a $360m [Glen Eira] municipal infrastructure pipeline to 2035,” CBRE’s Sandro Peluso, who is marketing the properties with Marcello Caspani-Muto and Jimmy Tat, said.
Long leases
The Caulfield North and Bentleigh East properties were developed for Guardian.
The leases include fixed four per cent annual rent increases over the initial term.
“The childcare sector continues to attract both domestic and offshore capital due to the resilience of its success over the past two years,” Mr Peluso said.
“Couple this with index linked growth and a recent scarcity of premium assets and we only expect investment popularity to grow as supply remains scarce,” he added.
“This portfolio in particular offers investors the chance to acquire two high performing, blue-chip assets leased to one of the country’s best childcare operators in premium locations where barriers to entrants are significant,” according to the executive.
Reliable demand: agents
Australia’s population of children under five is 1.75 million, Mr Peluso said.
Female workforce participation is over 63pc he added.
“For many families, childcare is essential, supporting high occupancy rates and reliable income streams for landlords,” according to the executive.
In September, the agency sold three Goodstart Early Learning backed centres, in Queensland’s Bray Park, Indooroopilly and Wavell Heights, for between $3.81-$7.12m on yields between 3.72-3.96pc.
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