CHURCH DEAL JUST A BIT OF CHILD’S PLAY
A CONVERTED church in Brisbane’s suburban northwest is set to undergo a million-dollar refurbishment and become the launch pad for a new childcare centre brand.
The heritage-listed former Enoggera Presbyterian Church and Hall has been acquired by an investment trust linked with local fund manager and developer Smithfield Property Group.
It was purchased for $2.4 million as a freehold going concern having operated for many years as the Enoggera Early Education childcare facility.
Strong activity is continuing in the childcare asset class, driven largely by demand from investors and the expansion of national operators.
The 1619sq m property on the border of Enoggera and Gaythorne at 238 Pickering St was sold via an expressions of interest campaign by JLL’s Tim Jones and Andrew Havig.
Originally built in 1915, the former church was extended in 1926 to accommodate a Sunday school.