A DREAM BUY FOR INVESTOR
A prime location and established tenant make this childcare centre great buying for the new owner
A NSW investor has emerged as the new owner of a Southport childcare centre, which sold at auction in May for $2.85 million.
The 2-8 Nesbit St centre was offloaded by DWY Investment Pty Ltd, linked to Wei Liu, and sold to VL and SM Pty Ltd, associated with Sunitha Murthey.
The seller appears to have done well from the sale, after purchasing the property for $2.6 million in 2016.
The property, which sold at a yield of 5.85 per cent, is leased to Little Scribblers until 2032, with options until 2042. It returns a net income of $166,876 per year plus outgoings and GST to the owner.
Burgess Raws on’s Jamie Dewe, who marketed the property with colleagues Adam Thomas, Natalie Couper and Michael Vanstone, said it was in a highly sought-after asset class, as well as in a prime location.
“Boasting a prime Gold Coast location and an established tenant on a secure long-term lease, the asset truly is a commercial property investors’ dream,” Mr Dewe said.
“We’ve had a strong run of childcare property sales throughout the past year, seeing Burgess Rawson responsible for more than $220 million worth of childcare sales throughout 2017 alone, with this property’s sale indicating this momentum is far from slowing.”
The centre is licensed for 75 long daycare places and is situated on a 1619sq m site, which is a short distance from the Brickworks retail centre.
● Other sales from June’s Queensland Government sales list include: 160 Cotlew St, Ashmore (Ashmore Plaza)
Vendors: Chi May Pty Ltd and Gasine Pty Ltd, linked to Wen-Chi Yeh and Nien Chin Tu Purchaser: Naga Pavan Chandrala Sale price: $1.18 million 47 Riversdale Rd, Oxenford (Goodstart Early Learning childcare centre)
Vendor: The Trust Company Pty Ltd
Purchaser: Joseph and Maria Cusmano
Sale price: $3.551 million 9 Jay Gee Court, Nerang
Vendor: Tursanti Haliman as trustee
Purchaser: Kelli Ann and Timothy Gates
Sale price: $1.15 million