Taree child care facility with new 20-year lease passed in

Taree child care facility with new 20-year lease passed in
Taree child care facility with new 20-year lease passed in

A Taree childcare facility was passed in at recent auction.

The result was despite a new 20 year lease ending 2038 with options to 2058 to Little Flippers, an experienced childcare provider with 13 other facilities.

Located at 9 Coolabah Drive, Taree, the property was passed in at $1.8 million.

The recently refurbished 55 place facility is set on 1,051 square metres.

It has an occupancy rate of 94%.

Net income on the lease is $132,000 per annum plus GST and a minimum increase of 3% per annum.

After auction it was put up for expressions of interest with an indicative price of $1,885,000 (7% yield).
Tags: 
Childcare Taree

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