Impressive Childcare Investment | New 15 Year Net Lease to National Tenant
41 Rennie Street , Lara VIC
Property Highlights
Description
+ 15 year net lease to Journey Early Learning to 2036.
+ Three further 10 year options to 2066.
+ Journey Early Learning: leading early education provider, with a network of 37 centres across the eastern seaboard.
+ Attractive 3% annual rent increases.
+ Strong-trading business recently acquired by Journey Early Learning in 2021.
+ Tenant pays all usual outgoings.
+ Premium 1,000 sqm facility, with service approval for 152 LDC places.
+ Large 3,253 sqm corner site within 800 metres of both the Lara town centre and the Princes Freeway and only 7 kilometres north east from the Geelong CBD.
+ Located the within established and rapidly expanding Bellarine Peninsula precinct, with forecast population of 393,216 (43% increase) residents by 2041.
+ As new construction, with significant depreciation benefits.
+ Childcare/Early Education is an essential service and one of Australia’s most sought-after asset classes, with both Federal and State Governments providing record funding. In the 2021-22 Federal Budget, the Federal Government added a further $1.7 billion to the $10.3 billion already budgeted for the year.*
+ Net Income: $460,775 pa + GST.
*Mitchell Institute, Australian Investment in Education: Early Childhood Education and Care (ECEC).
Property Details