This article is from the Australian Property Journal archive
A BRAND new childcare centre in Oakleigh South has sold to a private buyer for $9.5 million, marking the biggest price tag for the sector in Victoria in 2018 to date.
The 1066-1070 Centre Road property in Melbourne’s middle south-eastern suburbs is leased until 2042 and has a permit for 139 places, returning around $600,000 per annum.”
It has a 1,002 sqm building area and 988 sqm of outdoor play area and 3,291 sqm corner block, located across from Oakleigh South Primary School and near Clarinda Primary School.
CBRE agents Kinson Wong, Josh Twelftree, Sandro Peluso and Bianca Butterworth sold the property on behalf of VCT (Oakleigh) Pty Ltd.
“The competitive private process demonstrated ongoing investor confidence within the childcare sector and its underpinning factors from regulatory to demographic,” they said.
The sale price reflected a building rate of $9,480 per sqm.
Australian Property Journal
