Unikorn buys retail, childcare investment
Unikorn Capital has bought a Central Coast retail and childcare centre investment.
North Wyong Village, with an IGA, six specialty stores and new Oz Education backed childcare centre cost $11.4 million.
The result reflects a 6.37 per cent net passing yield.
The vendor was a syndicate, North Wyong SC, represented by Frank Banco.
“The sale represents an opportunity to recycle our capital into other opportunities as we continue to grow our portfolio into larger centres where we can add value through active management,” he said.
Sydney based Unikorn is led by Helen Tarrant.
North Wyong Village
All up, North Wyong Village at 34-38 Cutler Drive contains 1098 square metres, with a 6.14 year weighted average lease expiry.
The childcare centre is strata titled, marketed for its potential to be sold down.
The site spreads 5600 sqm with 52 car parks.
JLL’s Sebastian Fahey and David Mahood were the agents.
North Wyong is about 68 kilometres north of Sydney’s CBD.
Also today we are reporting a convenience retail investment in Nowra, on the South Coast, offered in three parts, sold to one buyer.
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