An interstate buyer has swooped on a brand new fully leased Gold Coast childcare asset.

They paid $7,620,283 for the Sanctuary Early Learning property at 5-9 Freda Street, Ashmore, ahead of a CBRE auction.

The sale realised a 6 per cent yield. CBRE’s Jamie Dewe, who struck the deal with Doug Doyle, said the property was an opportunity for investors to expand their portfolio with a reliable, longterm asset that has a new net lease to 2036, plus options extending to 2051.

“Sanctuary Early Learning are an established, highly respected operator, with the new buyer set to capitalise on this security and massive tax saving benefits,’ he said.

The 118-place childcare centre is on a 3292sq m site with a 968sq m building and a 836sq m play area

CBRE recently reached $1bn in early learning centre sales, comprising more than 328 freehold centres nationally, including 73 in Queensland.

Published in the Brisbane Courier Mail