Unique childcare centre set for major sale
A childcare centre in Melbourne’s south could set the tone for another bumper year for the sector, with the new facility set to fetch around $9 million.
The brand new centre at 1066 Centre Rd, Oakleigh South will soon open with 139 places, and with some unique design elements that agents and the developer say set it apart from other childcare properties.
Built by Veuve Property Group, the centre is believed to be the first in Australia to use Cross Laminated Timber panels in its construction, according to Veuve CEO Vin Harink.
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“These panels are a green and sustainable material and offer better acoustics and an advanced level of insulation when combined with double-glazed windows There is over 2,000sqm of exposed timber throughout the building,” he says.
“There are also outstanding playground areas designed to allow children to explore and experience the natural environment.”
The centre is leased to a major operator until 2032, with options to 2042, and will net annual rent of $600,000 plus GST and outgoings.
CBRE’s Sandro Peluso, who is marketing the centre with colleagues Josh Twelftree and Kinson Wong, on behalf of the Hume Childcare Trust, says early interest from investors has been around the $9 million mark.
“With an income of $600,000 per annum (plus GST and outgoings and excluding land tax), this is sure to be an exciting prospect for investors,” Peluso says.
The 1002sqm facility is positioned on a 3291sqm corner site near the Links retail centre and close to two primary schools, as well as a number of large tracts of lands that are tipped to become housing estates.
The childcare centre will be auctioned on Friday, March 9 at 2.30pm.