Triple Net Lease to ASX-Listed Tenant | Established Metro Childcare Investment

1 Paradise Way , South Morang VIC

Property Highlights

Rare Triple Net Lease
2,268sqm* Site With Triple St Frontage
CPI + 1.5% Annual Rent Increases
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Description

Burgess Rawson is pleased to offer to the market, Mayfield Early Education – 1 Paradise Way, South Morang (Melbourne), VIC for sale via our Investment Auction Portfolio 167.

This opportunity has the following key investment highlights:

+ Rare triple net lease to Mayfield Childcare Limited to 2033 plus option.
+ Mayfield Childcare: ASX-listed (ASX:MFD) early education provider with 39 centres nationally and growing.
+ Highly desirable triple net lease structure with the tenant paying 100% of all outgoings including: rates, land tax, insurances, management fees, repairs, maintenance (including structural capex).
+ Desirable CPI + 1.5% annual rent increase with ratchet provisions, ensuring future income growth.
+ Well-maintained centre licensed for 108 LDC places
+ Significant 2,268sqm* site with triple street frontage and conveniently located metres from the Coles-anchored Mill Park Shopping Centre and with direct access to Plenty Park Road servicing 34,000+ vehicles daily.
+ Strategically positioned 200 metres from The Lakes South Morang P-9 College and South Morang’s vibrant sporting hub, including the Mill Park Lakes Recreation Reserve and Tennis Club sporting facilities.
+ South Morang: high growth, family-oriented suburb located only 22 kilometres from the Melbourne CBD.
+ City of Whittlesea: one of the largest municipalities in metropolitan Melbourne, witnessing an influx of approximately 156 new residents each week. Additionally, an average of 76 babies are born weekly^^. Presently, the population stands at 250,711 residents and is projected to increase by 43.87% to 360,692 by 2041. **
+ Child care/Early Education is an essential service and one of Australia’s most sought-after asset classes, both the Federal and State Governments have allocated unprecedented funding to support this sector. In the 2023-24 period, the Federal Government is projected to contribute $12.7 billion in funding, plus an additional $4.7 billion dedicated to the Cheaper Childcare Reform which took effect in July 2023. This reform aims to enhance the affordability of early education and care for approximately 1.2 million families.^^^
+ Net Income: $315,097pa* + GST. #

For Sale by Investment Portfolio Auction
10:30am AEDT Wednesday 27 March 2024
Crown Casino, Melbourne

Bidder registration required, register here.

Please contact the exclusively appointed sales team for more information.

*approx
^^city of Whittlesea
**profile.id
^^^Australian Government Department of Education
# (as at 3 June 2024 – Assumed 4% CPI + 1.5%)

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Childcare
Land Size
2,268 SQM
Building Area
0 SQM

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