In Epping, a complex opened in 2017 (pictured top and left), has traded for $5.3 million reflecting a 6.5 per cent passing yield.
The property at 236 Harvest Home Road, about 20 kilometres north of the Melbourne CBD, is leased to One Early Education Group until 2033, and licensed for 135 places.
Beller Commercial director Jeremy Gruzewski, who marketed the site with colleague Liam Rafferty, said the state-of-the-art centre, on a 3041 square metre block zoned General Residential, attracted interest from numerous investors.
The deal values the building area at $5226 per square metre.
Across town, in the south-east suburb of Ormond, the same agency sold a boutique childcare centre, able to accommodate 60 clients, for $2.96 million.
This asset, which traded on a 4.9 per cent yield, occupies a 1256 sqm block with medium-term residential redevelopment potential.
Mr Gruzewski said the Ormond centre generated 43 enquiries and sold at auction on the 78th bid.
“The sale’s show that for well-run modern facilities in growth corridors that there is still a strong appetite for this property sector from astute investors,” Mr Gruzewski said. “For older centers at the end of the life with strong inner city locations, the potential residential development provides a strong exit strategy”.
The deals come after two more childcare centres in Melbourne’s south-east recently sold on tight yields to China-based investors.
Early this month we also reported that a childcare builder outmuscled residential developers to snare a Bulleen block for $3.25 million.
This week, we also reported that a centre in Doreen has traded for $15 million, reflecting a 5.8 per cent passing yield.