Burgess Rawson next portfolio auction to be online, date scheduled for late September
Burgess Rawson, the early childhood education and care (ECEC) focused real estate agency, has confirmed it will hold its first portfolio auction of the new financial year on 23 September 2020.
The auction will be conducted using an online and phone format will include 13 properties of which two are ECEC centres, alongside the introduction of ‘next generation virtual tour capabilities’ enabling prospective purchasers to be guided through the properties accompanied by the agent.
Adam Thomas, Director at Burgess Rawson, said “we are pleased to confirm our upcoming auction will be a virtual event. Despite restrictions, the early learning investment market is still strong and it is incredibly exciting to see the sector remain so well supported despite the many challenges brought by COVID-19.”
The two centres that will be included in the upcoming auction are:
A 75 licensed place centre in Rockhampton, Queensland; currently leased to Guppy’s Early Learning
A 120 licensed place centre in Pakenham, Victoria; currently leased to G8 Education and operating under the Creative Garden brand
Burgess Rawson’s last auction was held on 23 and 24 June 2020, in virtual and in-room format, at which three ECEC centres found buyers in the first major commercial property auction since COVID-19 restrictions were eased after the first wave.
Of the ECEC centres that changed hands, two were in Victoria, in the suburbs of Werribee and Epping. The Werribee centre achieved a yield on sale of 5.86%, and the Epping centre, a yield of 5.99%.
The third centre, located in Padbury, Western Australia, achieved a yield on sale of 6.48%.
“We know that childcare will play a critical role in Australia’s economic rebound and expect the government to further improve the current Child Care Subsidy – which is means and activity tested – to better reflect the population and shifts in demand.” Mr Thomas said.
“Against that backdrop the childcare sector remains an attractive passive investment that continues to see strong, consistent sales across the country.”
To view the upcoming Portfolio Auction, visit www.burgessrawsonmelbourne.com.au/portfolio-auctions
By Jason Roberts, The Sector