Burgess Rawson is pleased to offer to the market, 349 High Street, Prahran VIC for sale via our Auction Investment Portfolio 157.
This investment has the following key investment highlights:
+Secure triple net lease to Guardian Childcare to 2032.
+Tenant has exercised 5-year option to 2032 in advance.
+Guardian Childcare: leading national early education provider, educating more than 10,000 children per day across over 135 locations.
+Annual CPI reviews with 'ratchet provisions' at market review, ensuring rent cannot reduce.
+Strong trading business with 100% occupancy & long waitlist.
+Tenant pays 100% of outgoings including: all maintenance (capex & structural), rates, land tax (single holding), insurance and management fees.
+Well-maintained childcare centre licensed for 42 LDC places.
+Rated 'Exceeding' under the National Quality Standards (NQS)
+High profile 686sqm* main road corner site with frontages to Lewisham Road North and High Street, with exposure to 18,000+ passing vehicles daily.
+Situated amongst significant educational precinct 10 schools within 1.5 kilometre radius
+Conveniently located amongst one of Melbourne's most iconic metropolitan retail precincts, fronting the well-regarded High Street, and within metres from Chapel Street, providing access to a range of fashion, dining, lifestyle and entertainment options.
+Prahran: highly desirable and sought-after south-eastern suburb with a median house price of $1.8 million.
+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 2021-22, the Federal Government added a further $1.7 billion to the $10.3 billion already budgeted for the year*
+Net Income: $102,043 pa + GST.
*Mitchell Institute, Australian Investment in Education: Early Childhood Education and Care (ECEC).
For Sale by Investment Portfolio Auction
10:30am (AEST) Wednesday 7 December 2022
Crown Casino - River Room
