A local Asian Investor has purchased a 1,106sq m strata space let to an operating childcare at 1 Network Place, North Ryde NSW from the international developer Risland for $4,650,000.
The property offers 1,106sq m of net lettable area and is currently occupied by Kids Planet Childcare under a new 10 + 10 + 10 year lease. The yield achieved was 6.50 %.
The deal was negotiated by Nick Lower, Selin Ince & Oliver Ridley of Savills Metropolitan & Regional Sales, who said despite the perceived concern for the childcare industry over the past six months, this transaction is a great indicator of the strong investor appetite currently seen in the market for well-located assets with secure income streams.