Strategic Childcare Investment | 20 Year Net Lease to National Operator

329 - 331 Springvale Road , Forest Hill VIC

Property Highlights

Fixed 3% annual rent increases
Exposure to 53,000+ vehicles daily*
Significant depreciation benefits

Description

Burgess Rawson is pleased to offer to the market, 329-331 Springvale Road, Forest Hill VIC for sale via Expressions of Interest Campaign.

This opportunity has the following key investment highlights:

+ New 20 year net lease to Story House to 2044.
+ Three further 5 year options to 2059.
+ Story House: leading early childhood education provider, with a network of 50 centres across the eastern seaboard.
+ Desirable 3% annual rent increases.
+ Tenant pays all outgoings including land tax.
+ Multi level state-of-the-art centre licensed for 102 LDC places.
+ New construction with significant depreciation benefits.
+ Significant 1,553sqm* landholding fronting Springvale Road, a key activity precinct servicing many local businesses and providing a north to south connection from Doncaster East to Edithvale, whilst providing exposure to 53,000+ passing vehicles daily*.
+ Situated amongst significant educational precinct – 10 schools within 2km radius*.
+ Conveniently located 600 metres from Forest Hill Chase, a three-level major regional shopping centre anchored by Coles, Woolworths, Big W, Target, ALDI, HOYTS and AMF Bowling, and supported by 131 specialty retailers. The site is also within close proximity from the Harvey Norman-anchored Nunawading Home HQ, and Brentford Square Shopping Centre, underpinned by Woolworths.
+ Situated within the sought-after City of Whitehorse, a highly desirable location known for its family-friendly atmosphere. Located only 15km* from the CBD, The City of Whitehorse boasts a median house price of $1,330,000, significantly surpassing the Melbourne Metropolitan area’s median of $892,500. Notably, Whitehorse ranks among the top 10 local governments in Victoria in terms of median house prices.***
+ Childcare/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: $378,420 pa* + GST.

For Sale via Expressions of Interest as part of the portfolio:
902-904 Station Street, Box Hill
762-764 Whitehorse Road, Mitcham
Closing 3:00pm (AEST) Monday 8 April 2024

Please contact the exclusively appointed Burgess Rawson team for more information.

*Approx.
^^^ Australian Government Department of Education
***City of Whitehorse

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Childcare
Land Size
1,553 SQM
Building Area
654 SQM

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