Mount Helen childcare centre sold to local investor

A local investor has purchased a childcare centre in Mount Helen in Victoria from a local private for $4,275,000.

Located at 1848 Geelong Road, the centre is currently occupied by tenant Goodstart Early Learning. The yield achieved was 6.40%.

The 120 place child care centre provides fixed annual rental growth of 5% and is situated on a 3,187 sqm landholding with dual frontages. The centre is ideally situated opposite Federation University, IBM and other major organisations within Mount Helen

The deal was negotiated by Mark Stafford, Julian Heatherich and Benson Zhou from Savills Australia.

“Through our extensive database of highly qualified and motivated buyers, Savills was able to implement a strategic and targeted off-market database campaign, and ultimately achieve a premium result for our client’ said Mr Stafford.

Mr Stafford added that “the sale price highlights the ongoing demand we are experiencing for income generating assets, with high quality tenants throughout Victoria”.