This article is from the Australian Property Journal archive
A CHILDCARE centre at Chinchilla in Queensland’s western Darling Downs has sold prior to auction for $1.45 million on a yield of 8.5%.
Located at 10 Braithwaite St Chinchilla, 160km north-west of Toowoomba and 300km from Brisbane, the property on an approximately 1.024ha block, was sold to Brylan Holdings Pty Ltd by Ray White Commercial North Coast Central’s Damien Poole on behalf of Jason and Raschelle Hewett.
Poole said the purpose built facility and grounds was to be auctioned on August 27, however it was sold off-market.
“This sale came about from our investment database and buyer match.
“We had done all the work to take the property to market at the auction, however, the purchaser saw the value in the property and took action. We were able to negotiate the deal prior to the property going live in the marketing campaign. It was a great result for both buyer and seller,” Poole said.
The 580 sqm building is currently on a 10-year lease to Charley’s Place Early Learning Colleges with 3 x five-year options and is returning approximately $121,000 p.a.
Australian Property Journal
