A brand new purpose-built childcare centre in North Coogee has sold off-market to a syndicate arranged by Perdaman for $7.1 million, representing a record breaking sale for childcare centres in Perth to date.
Located at 53 Orsino Boulevard, the centre was developed by property investment and development firm, RG Property and pre-sold prior to completion of construction.
The building is located in the heart of Port Coogee town centre, adjacent to Port Coogee Village Shopping Centre, with views to the marina. Spread across two levels, the centre includes seven separate activity rooms, external play areas on both the ground and first levels, and places for 125 children.
Savills Australia agent Barney Dear negotiated the benchmark sale in an off-market transaction, achieving a tight yield of 6.25%.
“To date, this is the highest value childcare sale we have seen in the Perth market, and it further demonstrates the strengthening demand for this sector,” said Mr Dear.
“Savills was involved in three childcare sales in Perth in the last quarter of 2019, and in each case we experienced strong buyer demand, resulting in tight yields.”
Perdaman purchased the centre upon the signing of a 15-year lease by new tenant Insight Early Learning, who have two 10-year options to renew. The tenancy will provide Perdaman’s investors with strong passing income and fixed growth through the term of the lease.
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