Unique Albany Creek childcare centre ticks all the boxes
Double-storey. Double playgrounds. Undercover parking and prime Commercial zone suburban Brisbane land.
A unique Albany Creek childcare centre that ticks all the boxes is expected to have investors circling when it goes to auction this month.
The property at 16 Keong Rd is leased to established early learning operator Green Leaves on a new 15-year Triple Net lease with a further two five-year options.
Licensed for 109 long day care places, the facility is leased at $354,250 plus GST per annum, with 3% annual increases and ratchet provisions built into the arrangement.
The property will be put on the block at Burgess Rawson’s Investment Portfolio Auction in Melbourne on June 26.
With the property spanning two levels and including two significant outdoor playgrounds and almost 850sqm of floor space, selling agent Adam Thomas said it was one of the most striking early learning facilities ever to be brought to market.
“It really is a premium facility, and it’s positioned opposite an Aldi supermarket and a Hungry Jack’s, as well as being just down the road from local primary and secondary schools,” Mr Thomas said.
“Plus you’ve got the advent of a rare triple-net lease, with the tenant responsible for all maintenance, property taxes and insurance.”
“With recent childcare sales results continuing to strengthen, we expect a property like this with a very attractive lease to a growing operator to be keenly sought after.”
Mr Thomas said price expectations for the childcare centre were around $6 million, which would represent a yield of about 6%.
Burgess Rawson also transacted the neighbouring Hungry Jack’s in September last year, proving that investors already have their eye on commercial property in this pocket of Brisbane.
The centre sits at the junction of Albany Creek Rd, just moments away from the suburb’s retail precinct.
Burgess Rawson’s 129th Investment Portfolio Auction is on Wednesday, June 26 at 11am in Crown Casino’s River Room.