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Activity in ECEC freehold space picks up as prized Tempe centre changes hands
Jason Roberts
Feb 20, 2024
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Burgess Rawson, the early childhood education and care (ECEC) focused real estate and business broker, has confirmed the sale of a 69 place centre in the inner west Sydney suburb of Tempe for $7.265 million.
The centre, currently leased to Reggio Emilia Early Learning Centres, was sold to a local private investor at an attractive yield of 5.32 per cent.
The deal is the second high profile transaction managed by Burgess Rawson so far in 2024 and comes hot on the heels of the sale of an Alexandria, Sydney based centre currently leased to Story House Early Learning that sold for $8.5 million, a yield of 4.89 per cent.
“We are thrilled to have seen both of these important sales kick off our 2024 campaigns,” Michael Vanston, Associate Director of Childcare NSW said.
“We are about to witness a wave of early education transactions with enquiry levels so far this year indicating an increase in buyer interest.”
This sentiment was echoed by Adam Thomas, Managing Director Queensland who noted that the year had started encouragingly with vendors more willing to commit properties to the auction and EOI processes as economic concerns linked with rising interest rates continues to abate. “This new wave of activity, buoyed by market stability, signals a season of yield sharpening ahead,” Mr Thomas said.
Burgess Rawson’s upcoming portfolio auction will be held on 20 and 21 February and includes a range of early childhood education and care freeholds on offer.
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