Heritage childcare centre in Lidcombe arrives at market

A commercial childcare investment property with a secure long-term lease has arrived to market with an unusual addition: a tall brick chimney.

Brought to market by CBRE Western Sydney agents Jacob Shalala, Alex Mirzaian and Danyon Mannix, the site of 40 Main Avenue, Lidcombe offers a large land holding of 1,643 sqm and offers a street frontage to Herdsmans Ave and with rear parking for eight cars.

The site has a long-term lease to childcare provider Scribbles & Giggles until June 2031, with the lease representing an investment opportunity.
MORE:
Luxe unit developments buyers are flocking to
What $500K can get homebuyers in major Aussie cities
Is this Sydney’s best house?

A bird’s eye view of the Lidcombe site.

According to the commercial listing, the site has an approximate net income of $309,928 per annum.

“The triple-net lease has a desirable 10+10 year option and 3 per cent annual increases, representing an excellent investment opportunity.”

The site is available for sale via private treaty, with private inspection appointments will be undertaken.

The site used to be the Lidcombe Hospital.

The chimney and attached boiler house provided the former Lidcombe Hospital with its own electricity.

Since 2014, the boiler house has been converted into the childcare centre.

Coal furnaces produced steam, which fed into a generator, producing enough electricity to light and power the entire hospital, including its laundry and numerous wards and residences.

The listing boasts the childcare centre as a “secure investment with an attractive long-term lease.”

Back in 2013, the chimney was extensively restored to bring the 36 metre high structure up to date with modern building standards.

Requests for comments on the commercial property were not answered prior to publication.

MORE:
Conwoman Caddick’s ill-gotten mansion readied for sale
Why Albo’s wage rises won’t help homebuyers
The new fear driving auctions behind closed doors