This article is from the Australian Property Journal archive
A CHILDCARE centre in Baldivis, south of Perth has sold under the hammer for $5.8 million, capping off a week of commercial property auctions that netted more than $100 million in sales.
Yesterday’s Burgess Rawson auction event in Brisbane was a quieter affair – about $13.5 million sold – compared to the auctions on Tuesday in Sydney, which saw more than $25 million change hands, and then the high-octane event in Melbourne on Wednesday at which $64.5 million sold under the hammer.
The Baldivis childcare centre, leased to ASX-listed G8 Education on a long 30-year term to 2052, sold on a yield of 6.25%. The double-storey centre is licenced for 119 places and is on a 2,310 sqm site opposite a retail precinct in fast-growing area.
A Toowoomba service station occupied by Viva Energy sold $3.85 million, on a yield of 5.92%. The corner site of 2,851 has a 12-year lease to 2028 with seven further 10-year options to 2098, and was billed as the regional centres “best landbank opportunity”.
Another Toowoomba asset, a warehouse and storage site occupied by Civilmart Group, sold for $2.32 million at 6.48%. Civilmart is Australia’s largest manufacturer of concrete pipes and precast products and has a 10-year lease to 2032 with multiple options.
Also selling was Greencross Vets clinic in Moorooka, in Brisbane’s south, for $1.7 million, on a 5.1% return, and a Clermont Caltex service station, leased to Chevron, for $1.505 million.
