SOLD
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Impressive Childcare Investment Leased to Listed Tenant

28-34 Marengo Street, Tarneit VIC

Property Highlights

15 + 10 + 10 year lease to 2052
Sparrow: Market Cap HK$2.7B
4% annual rent increases

Description

+ Secure 15 year net lease to Sparrow Early Learning to 2032
+ Two further 10 year options to 2052
+ Sparrow Early Learning: part of Fullshare Holdings Ltd, listed on the Hong Kong Stock Exchange (SEHK:607), with offices in China, Hong Kong, Singapore, and Australia, and with a Market Cap of HK$2.7billion
+ Desirable 4% annual rent increases with market review at the commencement of each further term
+ Tenant pays all outgoings including: rates, insurances, maintenance and land tax
+ Modern 950 sqm purpose-built child care facility licensed for 120 LDC places
+ Prominent 2,772 sqm site with triple street frontage of over 148 metres and exposure to busy Derrimut Road
+ Located directly opposite Tarneit Central Shopping Centre, underpinned by Coles, Kmart and ALDI along with 45 specialty retailers
+ Tax depreciation benefits
+ Wyndham City: one of Australia’s largest growth areas with forecast growth of 82% to 512,591 residents by 2041 (Source: forecast.id)
+ Net Income: $316,087 pa + GST and Outgoings

For Sale by Auction
11am AEDT Wednesday 1 April
Crown Casino, Melbourne VIC

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Childcare
Land Size
2,772 SQM
Building Area
950 SQM

Contact Agents

Adam Thomas

0418 998 971

Contact Me

Natalie Couper

0413 856 983

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