Large ECEC service located at Waterlea residential estate sells for $5.2 million
A 136-place early childhood education and care (ECEC) service located at the entrance to the newly developed Waterlea residential estate in Queensland has sold for $5.2 million to Peak Equities, a Melbourne based commercial property syndicator.
The sales campaign for the property located at 7001 Muller Road, Walloon, Queensland was intense, with over 40 enquiries received by CBRE representatives Darren Collins and Sebastian Fahey.
Speaking with real estate publication The Property Tribune, Mr Collins said the sale represents high levels of investor confidence in the ECEC sector, which he believes stems from government support during the early stages of COVID-19.
“Across the board, we are continuing to field strong local and interstate investor interest in well-leased commercial property investment opportunities in identified Queensland growth corridors,” he added.
CBRE also handled the sale of an integrated retail, fuel and medical centre, known as The Markets, located in close proximity to the ECEC service, something Mr Fahey said indicates the strong growth prospects in the area.
“The area’s growth prospects coupled with the property’s strong 15-year tenancy covenant were key drivers of buyer interest,” he said, intimating that the successful operator will be LEAD Childcare, who operate 17 market-leading childcare centres across Queensland.
Once fully completed, the Waterlea residential estate – located near RAAF Base Amberley – will have approximately 2,000 homes, making it an attractive offering for LEAD.