A childcare facility south of the Perth CBD has hit the market, presenting buyers with an opportunity to secure an investment with a 20 year lease in place.
A childcare facility south of the Perth CBD has hit the market, presenting buyers with an opportunity to secure a reliable investment with a sturdy 20 year lease in place.
Pipsqueaks Playschool, at 51 Borough Road, Baldivis, is operated by Think Childcare Limited until May 2038, with 3.0 percent annual rent increases, generating a total net rental of $260,000 per annum.
Savills Australia’s Barney Dear and Chas Moore have been appointed to sell the single-storey facility and are expecting interest from a wide buying pool.
“The campaign is set to generate interest from local and Melbourne based investors and we’re anticipating offers to be more than $4 million,” Mr Dear said.
The 2,996sq m site was constructed in two stages, with stage one completed in March 2014 and stage two completed in July last year.
Internally, the centre is a purpose-built facility and includes seven activity rooms, a staff kitchen and kitchenette, bathrooms, a laundry and reception area.
Externally, the proprty encompasses about 840sq m of playground area and 30 parking spaces.
The population of Baldivis has grown from about 6,000 people in 2006 to more than 32,000 across a period of 10 years, generating a boom in investment demand.
”Baldivis has undergone significant urban expansion in recent years, due to the availability of development-ready land and the accessible nature of the region,” Mr Dear said.
“Access to seaside recreational hotspots, such as Garden Island and Mandurah, is a key catalyst for growth in the area, along with Western Australia’s natural environs and waterways, which provide a blend of lifestyle and city living.”
The property is for sale via offers to purchase.
Learn more about Savills Metropolitan and Regional Sales.