State-of-the-art Childcare Centre | New 15 + 10 + 10 Year Net Lease to 2057
730-734 North Road , Ormond VIC
Property Highlights
Description
+ New 15 year net lease to Elles Belles Early Learning to 2037.
+ Two further 10 year options to 2057.
+ Elles Belles Early Learning : boutique operator with a further strong-trading centre in Cheltenham.
+ Annual rent increases to the greater of CPI or 3%.
+ Tenant pays all outgoings including land tax.
+ Impressive double storey child care facility, with service approval for 94 LDC places and basement parking for 20 cars.
+ Strategic 1,026 sqm main road ‘city-bound’ site, with exposure to 39,000 + vehicles passing daily and located only 12 kilometres from the Melbourne CBD.
+ The centre is located within the McKinnon school zone, including one of Victoria’s top ranking high schools – McKinnon Secondary College, McKinnon Primary School, Valkstone Primary School, Kilvington Grammar School and St Patrick’s School.
+ Conveniently located 3 kilometres from Chadstone Shopping Centre, one of Australia’s largest shopping centres, underpinned by Aldi, Coles, Woolworths and 420+ specialty stores.
+ Brand 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: $414,000 pa + GST.
*Mitchell Institute, Australian Investment in Education: Early Childhood Education and Care (ECEC).
Property Details