Burgess Rawson in conjunction with Sutherland & Farrelly are pleased to offer to the market, 20 Mulwala Drive, Doreen (Melbourne), VIC for sale via Expressions of Interest.
This opportunity has the following key investment highlights:
+ 10-year net lease to Butterflies Childcare to 2031.
+ Three further 10-year options to 2061.
+ Butterflies Childcare: established and successful local operator with two centres in the locale.
+ Desirable 3% annual rent increases.
+ Tenant pays all usual outgoings.
+ Dominant childcare centre licensed for 120 LDC places.
+ Strategically situated within important education precinct with 7 primary schools including Ivanhoe Grammar & Plenty Valley Christian College within 2.5*km radius.
+ Large 1,961*sqm site, adjoining McDonalds and surrounded by key national retailers including KFC, Bridgestone and United.
+ City of Whittlesea: one of Australia's fastest growing LGA's and one of the largest municipalities in metropolitan Melbourne, witnessing an influx of approximately 156 new residents each week. Additionally, an average of 76 babies are born weekly ^^. The population is projected to increase by 55% to 360,691 residents by 2041.^^
+ Child care/Early Education is an essential service and one of Australia's most sought-after asset classes, both the Federal and State Governments have allocated unprecedented funding to support this sector. In the 2023-24 period, the Federal Government is projected to contribute $12.7 billion in funding, plus an additional $4.7 billion dedicated to the Cheaper Childcare Reform which took effect in July 2023. This reform aims to enhance the affordability of early education and care for approximately 1.2 million families.^^^
Net Income: $344,024 pa* + GST
Please contact the exclusively appointed team for more information.
*approx
^^city of Whittlesea
^^^Australian Government Department of Education
For Sale by Investment Expression of Interest
Closing 3PM AEST - Tuesday 21 May 2024
