15 Year Net Lease to Leading National Operator

902-904 Station Street , Box Hill VIC

Property Highlights

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

Description

Burgess Rawson is pleased to offer to the market, 902-904 Station Street, Box Hill VIC for sale via Expressions of Interest Campaign.

This opportunity has the following key investment highlights:

+ New 15 year net lease to Guardian Childcare to 2038.
+ Two further 10 year options to 2058.
+ Guardian: leading early childhood education provider, with a network of 152 centres across the eastern seaboard.
+ Desirable 3% annual rent increases.
+ Tenant pays all outgoings including land tax.
+ Impressive double story childcare facility licensed for 122 LDC places and features basement car park for 26 spaces.
+ New construction with significant depreciation benefits.
+ Significant 1,449sqm* landholding fronting Station Street with exposure to 21,400 passing vehicles daily*.
+ Situated amongst significant educational precinct – 38 schools within a 3km radius*.
+ Strategically situated within close proximity to Box Hill Central Shopping Centre, a prominent sub-regional shopping destination situated above Box Hill train station and adjacent to Box Hill Central North, featuring anchor tenants such as Coles and Woolworths, complemented by a diverse selection of 90 specialty retailers.
+ Located within the sought-after City of Whitehorse, Box Hill is renowned for its family-friendly environment. Located only 15 kilometres from the CBD, it is poised for significant growth, with an expected 47.5% increase in population by 2041, reaching 26,081 residents. The area also commands a median house price of $1,415,500.
+ 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: $530,700 pa* + GST.

For Sale via Expressions of Interest as part of the portfolio:
329-331 Springvale Road, Forest 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

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Childcare
Land Size
1,449 SQM
Building Area
830 SQM

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