Exclusive Sydney preschool for sale with Pilates studio and 400-strong waitlist
An exclusive childcare centre on Sydney’s Northern Beaches has been listed for sale, featuring a tenant on a long-term lease and a waitlist of more than 400 children.
Saltwater Preschool in Newport is aptly named for its position close to bays and beaches, and for being so beautiful that it would make grown adults weep.
With Hawaiian-inspired plantation architecture, wraparound “playscapes” and a staff Pilates studio, this is no ordinary preschool.
It’s also the only long daycare provider for children from birth to two years old in the area, serving suburbs including Palm Beach, Whale Beach and Avalon Beach.
Listing agency Stonebridge Property Group said the Northern Beaches was experiencing a critical undersupply of childcare, with more than eight children competing for every available place – almost triple the Sydney average.
Saltwater is “uniquely positioned” to meet this demand and is highly regarded in the region. The operator is part of a family-owned group that includes Bluey’s Treehouse and Billy Kids, all north of Mona Vale.
“This property represents one of the most remarkable childcare offerings I have ever presented to the national market,” said Stonebridge partner Michael Collins.
Recently completed, the 88-place centre sits on a sprawling 2,387-square-metre block that provides ample space for children to play and explore.
Exuding elegance inside and out, the centre creates a striking first impression from the verandahs and landscaping to the grand double-height foyer and staircase.
The multi-level design also includes a basement car park for all-weather access, premium internal finishes, and a designated staff level with a Pilates studio and meditation centre.
The asset is secured by a rare 20-year triple net lease extending to 2045, with two 10-year options through to 2065, delivering a net income of $700,000 a year plus GST.
The tenant provided “stable and secure income where all outgoings, including structural repairs and maintenance, are paid by the tenant”, Stonebridge added.
According to the listing, “the asset is designed to deliver maximum depreciation and long-term operational success for the tenant”, with 100 per cent portfolio occupancy providing a “stable and secure income”.
Saltwater is the largest childcare centre on the peninsula and the newest in more than 40 years.
“The combination of an ultra-premium location in an undersupplied catchment, rare triple net lease structure and world-class built form make this an exceptional investment opportunity,” said Stonebridge executive Brett O’Neill.
Saltwater Preschool is being offered for sale by expressions of interest, closing at 3pm AEST on Monday, June 30.
