This article is from the Australian Property Journal archive
A Hong Kong investor has acquired a childcare centre in Melbourne’s south-east suburb of Ashburton for $10.79m.
Located along Warrigal Road, Nino Early Childcare centre is licensed for 134 places and was sold to the first-time investor for $80,000/place.
The 1,683 sq m centre was built in 2018 and is currently Leased to Nino Early Learning Adventures.
Stonebridge Property Group’s Kevin Tong and Rorey James were handling the transaction.
“Our annual Lunar New Year event hosted over 130 attendees (mainly Asian investors) and the overall sentiment and feedback from the offshore buyers remain positive with many of these groups cashed up and eager to buy,” said Tong.
“Note that this buyer pool represented 56% of all the Childcare centres we sold in Victoria over the last 12 months.”
Childcare centres have been a growing asset class for Asian investors. The recent transaction is the latest in a series of childcare sales by Stonebridge’s Asia Practice to Asian capital.
- Ashburton Nino Early Learning, VIC – sold $10,795,000
- Heathmont Grow Early Education, VIC – sold $12,016,668
- VIC Frankston Explorers Early Learning, VIC – sold $7,500,000
- Mudgeeraba Reedy Creek Child Care, QLD – sold $2,250,000
- Seaford Nido Early School, VIC – sold $6,500,000
- Box Hill Young Academics, NSW – sold $12,200,000
- Essendon Guardian Childcare, VIC – sold $9,000,000
- Carseldine Journey ELC, QLD – sold $9,836,666
- Caboolture Eden Academy, QLD – sold $7,770,000
“We have seen a resurgence of market sentiment from both investors and vendors across recent weeks, with this sale being a promising sign for what we believe will be a highly transactional year,“ added James.
“While the yield for the property was influenced by a higher rent and an upcoming market review, the sale should provide the market confidence of the continued for Victorian childcare assets.”
In December, Stonebridge sold a portfolio of three Victorian childcare centres for $35m.