Economics
Property
Melbourne centre sells for $7.26 million
Jason Roberts
Nov 18, 2018
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A brand new childcare centre has sold to a private investor for $7.26 million in Greensborough, 19 km north of the Melbourne CBD.
The 1,891 square metre purpose-built facility - St Helena Early Learning - is licensed for 120 places, and is situated on a 4,224 square metre block including an outdoor area and car park.The sale includes a 15-year lease to a well-established childcare provider, and provides a return of $432,000 per annum plus GST.
The centre was sold by Fitzroys and CBRE real estate agents, who said that there was high demand for childcare services within the Greensborough area. The latest Australian Bureau of Statistics census data states that 25 per cent of Greensborough’s population is young families, with 6.4 per cent of the population is aged between 0-5 years.
CBRE Real Estate Agent Sandro Peluso told Real Estate Source “We are seeing some big results of late in the sector driven by the fast-paced growth in the 0-5 age group population which is destroying the notion of oversupply, as does the retreat of bank funding, which played a big part in boosting supply initially through large injections of capital.
“The participation levels of parents and children are also increasing, with more mothers choosing to go back to work, boosting demand.”
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