Savills sell North Ryde childcare centre to local Asian investor
Staff reporterDecember 7, 2020
A local Asian investor has purchased a 1,106 sqm strata space let to an operating childcare at 1 Network Place, North Ryde NSW from international developer Risland.
It was purchased for $4,650,000.
The property is currently occupied by Kids Planet Childcare under a new 10 + 10 + 10 year lease. The yield achieved was 6.50%.
The deal was negotiated by Nick Lower, Selin Ince & Oliver Ridley of Savills Australia who said despite the perceived concern for the Childcare industry over the past six months, this transaction is a great indicator of the strong investor appetite currently seen in the market for well-located assets with secure income streams.