Economics
Property
Burgess Rawson September auction results confirm ECEC freehold sales continue to flow
Jason Roberts
Sep 28, 2022
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Early childhood education and care (ECEC) real estate and business broker Burgess Rawson has completed its latest auction campaign in which four centres located across Victoria and Queensland were sold.
“We are delighted to have seen such good outcomes at last week’s portfolio auctions,” Adam Thomas, Managing Director QLD and Partner at Burgess Rawson, said
“It is no secret that rising interest rates are a concern for those engaged with the ECEC sector, particularly when considering freehold property, but thus far the response from investors remains positive which is very encouraging indeed.”
“This campaign once again reinforced the importance of having strong tenants with three of four sold properties currently leased to high quality, well known approved providers.”
Auction results for this campaign were as follows:
Templestowe Lower, VIC – 45 place centre leased to Journey Early Learning sold for $3.45 million at a yield of 5.01 per cent
Bardon, QLD – 49 place centre leased to Eden Academy sold for $4.97 million at a yield of 4.58 per cent
Nerang, QLD – 75 place centre leased to Genius Child Care sold for $4.525 million at a yield of 5.98 per cent Seaford, VIC – 108 place centre leased to Sanctuary Early Learning was sold but the results were not disclosed
“Looking ahead the team is now focused on preparing for our penultimate auctions for 2022 which will take place on 25, 26, 27 October,” Mr Thomas added.
“We anticipate that investors will be keen to participate as they position for next year, especially considering the significant subsidy pledges made by the Federal Government that commence in 2023 become closer and closer.”
The full suite of results from the auction campaign can be viewed on Burgess Rawson’s website.
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