Brand New Childcare Investment with 20 Year Triple Net Lease

50 Banyan Drive, Cranbourne West VIC

Property Highlights

New 20 Year Triple Net Lease
3% Annual Rent Increases
Prominent 2,670 sqm Corner Site
Register to Bid

Description

+ New 20 year Triple Net Lease to Imagine Childcare & Kindergarten to 2040
+ Two further 10 year options to 2060
+ Imagine Childcare & Kindergarten: long established and highly successful early education provider with 13 centres nationally
+ Triple Net Lease – tenant pays 100% of outgoings including: all maintenance, insurances, rates, management fees and land tax (single holding basis)
+ Desirable 3% annual rent increases with ratchet provisions at market review, ensuring rental growth
+ Prominent 2,670 sqm site accommodating a brand new double storey 767 sqm purpose-built child care facility licensed for 124 LDC places
+ New construction with significant depreciation benefits
+ Prominent corner position within the rapidly evolving Lochaven Residential Estate, metres from both Cranbourne Secondary College (1,200 students, opening Q1 2021) and the Woolworths-anchored Cranbourne West Shopping, and with direct access to Evans & Cranbourne-Frankston Road’s
+ The City of Casey: one of the fastest growing and most populous municipalities in Australia, home to 353,872 people, supporting 67,648 jobs with an annual economic output of $20.185 billion
+ Net Income: $385,516 pa + GST

For Sale by Investment Portfolio Auction
10:30am (AEDT) Wednesday 9 December

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Childcare
Land Size
2,670 SQM
Building Area
767 SQM

Contact Agents

Contact Me

Stay up to date with our latest portfolio auctions & insights