Childcare centre heads to auction

A CHILDCARE centre built from a 1920s cottage could sell for millions when it heads to auction next month.

The 64-place Goodstart Early Learning centre on Bridge St in North Toowoomba is the city’s third childcare centre to go through the auction process in the past nine months.

Cushman and Wakefield lead agent Michael Collins said childcare centres were highlyprized investments, especially in Toowoomba.

“It’s a very quaint centre – a 1920s cottage that’s been turned into the childcare centre and then they’ve built another building next to it,” he said.

“Childcare centres are such a highly sought-after sector within the property investment community.

“Childcare is a popular asset class and the industry is going from strength to strength.

“Toowoomba is one of the strongest regional cities in Australia – it’s just a strong community and it’s got a huge demand for childcare.”

The centre, which is within 3km of nearly a dozen primary schools, hasn’t changed hands in 15 years.

A Sydney national property trust bought it in 2003 for $1.175 million, according to RP Data.

But the winning price in Sydney on May 22 could be much higher, if previous sales are any indication.

The Milestones Early Learning Centre in Kearneys Spring goes under the hammer on May 9 after it sold for $3.92 million in 2016.

Another facility in Centenary Heights sold for nearly $2 million at auction in August.

For more information, call Michael Collins on 0404 023 204.