Edge Early Learning service changes hands, fetching $8.4m in sale

A building which is leased to Edge Early Learning until 2043 recently changed hands, with Clarence Property paying $8.4 million for an office which was converted into an early childhood education and care (ECEC) facility in 2018. 

 

The site at 22 Marie St Milton, in Queensland, was last traded in 2017 when it sold for $6.7 million. After sale a third storey was added, along with repurposing the space to make it fit for ECEC purposes. 

 

Each floor of the building now has an outdoor playspace, with a 22 bay underground parking space, as well as outside/customer parking. 120 children can be accommodated within the space, in line with regulations. 

 

Hunter Higgins and Tom O’Driscoll from Colliers brokered the sale, noting the deal was struck “at a record high yield” of 5.28 per cent. 

 

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