292-296 Grimshaw Street Watsonia North VIC 3087

+ 15 year net lease to Advance Childcare to 2037.
+ Two further 10 year options to 2057.
+ Advance Childcare: experienced boutique operator with multiple Melbourne metro locations.
+ Annual 3.5% rent increases plus ratchet provisions at market review, guaranteeing rental growth.
+ Tenant pays all outgoings including land tax.
+ Premium multi-level child care centre, with service approval for 132 LDC places.
+ Prime position with close proximity to 8 complementary educational facilities within a 2 kilometre radius.
+ Substantial 2,659 sqm main road corner site, with exposure to 22,000 plus vehicles passing daily and located only 16 Kilometres from the Melbourne CBD.
+ Situated metres from Greensborough Highway and with ease of access of Plenty Road, a major arterial connecting the CBD to the north eastern suburbs.
+ Brand new construction with significant depreciation benefits.
+ Childcare/Early Education is an essential service and one of Australia's most sought-after asset classes, with both Federal and State Governments providing record funding. In the 2021-22 Federal Budget, the Federal Government added a further $1.7 billion to the $10.3 billion already budgeted for the year.*
+ Net Income: $530,222 pa + GST.

For Sale by Investment Portfolio Auction
10:30am (AEDT) Wednesday 23 February 2022

*Mitchell Institute, Australian Investment in Education: Early Childhood Education and Care (ECEC).