Burgess Rawson profiles Geelong Childcare centre ahead of upcoming auction
Burgess Rawson, the early childhood education and care (ECEC) focused real estate and business broker, has released a statement profiling one of the six centres featured in an upcoming portfolio auction scheduled for 23 June 2021.
The 120 licence place centre in Belmont, Victoria is currently leased to Elements Childcare and Early Learning, is located close to Geelong’s CBD and has been rated as Exceeding the National Quality Standard.
“Elements Early Learning is exceptionally well regarded, as evidenced by their 100 per cent occupancy and very long waitlist at this centre,” Burgess Rawson childcare specialist Natalie Couper said.
The property, which includes the Elements centre and a partial lease to drive through coffee outlet Bean Squeeze has a combined annual return of $379,806 per annum plus GST.
Lease tenure is 15-years to 2029, with three further five-year options to 2044 for Elements and five years to 2025, with five additional five-year options to 2050 for Been Squeeze.
“From an investment security point of view, Elements is well established with a long trading history and has an incredibly strong following with a long line of families trying to get their children into one of their locations,” Ms Crouper said.
Bean Squeeze has 10 locations throughout Geelong, making them a well known name in the region, she added.
“They’ve been at this site a long time and the lease is effectively a ground lease, the building is owned by the tenant, so there’s no obligation on the landlord for any maintenance or repairs moving forward.”
To learn more about this Belmont opportunity and other sites in the June Auction click here.