High-Exposure Childcare Investment Leased to National Operator

762-764 Whitehorse Road , Mitcham VIC

Property Highlights

Fixed 3% annual rent increases
10 schools within 3km radius*
Significant depreciation benefits

Description

Burgess Rawson is pleased to offer to the market, 762-764 Whitehorse Road, Mitcham VIC for sale via Expressions of Interest Campaign.

This opportunity has the following key investment highlights:

+ New 20 year net lease to Children First Education to 2044.
+ Three further 10 year options to 2074.
+ Children First Early Education: experienced early education provider, with a network of 10 centres and growing.
+ Fixed 3% annual rent increases.
+ Tenant pays all outgoings including land tax.
+ Stunning 869sqm double story childcare centre licensed for 128 LDC places.
+ New construction with significant depreciation benefits.
+ High-exposure 1,865sqm* corner site, prominently situated at the intersection of Maroondah Highway /Whitehorse Road and Heatherdale Road. It benefits from exposure to over 55,000 passing vehicles daily* and is conveniently positioned just 300 meters from Eastlink, a vital commuter route.
+ Situated amongst significant educational precinct – 10 schools within a 3km radius*.
+ Positioned strategically opposite Heatherdale Train Station and only 700 meters from Ringwood Square Shopping Centre, underpinned by Coles, Aldi, and Bunnings, alongside various complementary specialty retailers. Additionally, it is conveniently located within close proximity to Costco and Eastland Shopping Centre, a super-regional shopping destination featuring major retailers: Coles, Myer, and Woolworths, along with over 350 specialty retailers.
+ 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: $601,120 pa* + GST.

For Sale via Expressions of Interest as part of the portfolio:
902-904 Station Street, Box Hill
329-331 Springvale Road, Forest Hill
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
1,865 SQM
Building Area
869 SQM

Contact Agents

Contact Me

Stay up to date with our latest portfolio auctions & insights