An early learning centre at Alfords Point has sold under the hammer last week for $3.27 million.
The childcare centre was sold Burgess Rawson’s March Portfolio Auction.
The 785 sqm corner site, which is currently home to Best Kidz Early Learning Centre, boasts an easily accessible location, close to neighboring schools making it popular amongst parents with children of varying ages.
The newly refurbished centre has been home to early learning providers more than 30-years and has recently been expanded to accommodate 37 childcare places to meet growing client demand.
Burgess Rawson Sydney Associate Director, Tom Doran, said the long-term investment was a welcome addition to the private investor’s property portfolio.
‘‘The property’s strong history as a childcare asset highlights that it’s a tried and proven location for a successful childcare, providing a sense of security to the new buyer who has been eager to acquire an asset of this class for some time,’’ Mr Doran said .
‘‘The prime location is a very well-regarded area with Alfords Point extremely popular amongst young families, which was also a major point of interest for the investor who expects the asset to continue thriving well into the future.
‘‘Strong credentials of the property aside, it also has a charming uniqueness in its residential offering, with three bedrooms upstairs.’’
There was spirited bidding at auction with the first bid coming out at $2.8 million.
‘‘Childcare assets performed extremely well nationally throughout 2017 which saw demand far outweigh supply, with this property’s sale proving investor interest in this asset class is far from fading,’’ he said.
The 37 place property provides a net income of $170,000 pa + GST and maintains a secure 10-year lease to Best Kidz Early Learning Centre until February 2028 plus options extending a further 10 years.
