Economics
Property
Burgess Rawson’s first auction of 2022 continues to see strong support for ECEC centres
Jason Roberts
Mar 07, 2022
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Early childhood education and care (ECEC) real estate and business broker Burgess Rawson has completed its first auction campaign of 2022 in which four centres were offered and sold with strong bidding and results for each.
Billy Holderhead, National Partner at Burgess Rawson, said “After so long in lockdown remote auctions (dominated by online and phone bidding) were becoming the norm so it was brilliant to see a queue of investors lining up to check in outside our auction rooms at Crown Casino.”“We are pleased with the results achieved at our first auction of the year,” said National Head of Agency Adam Thomas, a well known ECEC specialist.
“With concerns over the direction of interest rates and other macroeconomic developments dominating the financial press it is incredibly encouraging to see investors willing to look through the noise and commit to quality assets tenanted by quality operators.”
“It's very encouraging and bodes well for the rest of 2022.”
Auction results for this campaign were as follows:
- Picton, NSW - 36-place centre leased to The Early Learning Hub (Busy Bees) sold for $3.29 million at a yield of 4.38 per cent
- Seaford, VIC - 40-place centre leased to Busy Bees sold for $2.325 million at a yield of 3.92 per cent
- Sunbury, VIC - 96-place centre leased to Bambini ELC sold for $6.575 million at a yield of 4.63 per cent
- Watsonia North, VIC - 132-place centre leased to Advance Childcare Management sold for $11.8 million at a yield of 4.49 per cent
Of particular note this campaign was the sale of The Early Learning Hub in Picton, NSW which achieved a sub 5 per cent yield but also a final price that was 10 per cent above expectations.
In addition, as Michael Vanstone, Associate Director at Burgess Rawson Sydney noted, there was solid participation from phone and online bidders but most of the successful buyers were actually present in the auction rooms.
A detailed list of property information, including a recorded version of auction live stream, bidding increments and individual centre information can be found here.
Further information about the services offered by Burgess Rawson may be found here.
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