Burgess Rawson next portfolio auction to be online, date scheduled for late September
Burgess Rawson, the early childhood education and care (ECEC) focused real estate and business broker, has confirmed it will hold its first portfolio auction of the new financial year on the 23 September 2020.
The auction will be conducted using an online and phone format and will include 13 properties. of which two are ECEC centres, alongside the introduction of “next generation virtual tour capabilities” enabling prospective purchasers to be guided through the properties accompanied by the agent.
Adam Thomas, Director at Burgess Rawson, said “we are pleased to confirm our upcoming auction will be a virtual event. Despite restrictions, the early learning investment market is still strong and it is incredibly exciting to see the sector remain so well supported despite the many challenges brought by COVID-19.”
The two centres that will be included in the upcoming auction are:
- A 75 license place centre in Rockhampton, Queensland currently leased to Guppy’s Early Learning
- A 120 license place centre in Pakenham, Victoria currently leased to G8 Education and operating under the Creative Garden brand
Burgess Rawson’s last auction was held on 23 and 24 June 2020, again in virtual format, at which three ECEC centres found buyers in the first major commercial property auction since COVID-19 restrictions were eased after the first wave.
Of the ECEC centres that changed hands, two were in Victoria, in the suburbs of Werribee and Epping. The Werribee centre, achieved a yield on sale of 5.86 per cent, and the Epping centre, a yield on sale of 5.99 per cent.
The third centre, located in Padbury, Western Australia achieved a yield on sale of 6.48 per cent.
“We know that childcare will play a critical role in Australia’s economic rebound and expect the Government to further improve the current Child Care Subsidy – which currently means and activity tested – to better reflect the population and shifts in demand.” Mr Thomas said.
“Against that backdrop the childcare sector remains an attractive passive investment that continues to see strong, consistent sales across the country.”
To view the upcoming Portfolio Auction please click here.
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