A private investor has snapped up a childcare centre in Brisbane’s north for $7.7m. Photo: istock
A private investor has snapped up a childcare centre in Brisbane’s north for $7.7m, drawing interest from more than 135 investors amid Queensland’s population boom.
Completed in 2021, Goodstart Early Learning Griffin, in Brisbane’s north, was strategically developed to address an under supply in the suburb.
Goodstart Early Learning, at 60 Wesley Road, Griffin, sold for $7.7m.
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The purpose-built 110 place childcare facility is on a 2,405 sqm block and is secured by a 15-year net lease to 2035 with options extending to 2055
The sale was brokered by Tom Moreland, Michael Collins, Thomas Proberts and James Freemantle of Stonebridge Property Group via an on-market campaign.
Goodstart Early Learning, at 60 Wesley Road, Griffin, sold for $7.7m.
“Newly built Goodstart freeholds are rare-to-market nationally, courtesy of the tenants significant existing footprint,” said Mr Proberts.
“This, coupled with excellent lease fundamentals and strong depreciation benefits combined to drive significant interest from over 135 investors and a benchmark 5.30 per cent yield.”
Private investors are looking for modern centres in key metropolitan and regional growth locations.
Mr Moreland said private investors were looking for premium childcare offerings, particularly for modern centres in key metropolitan and regional growth locations.
“Buyers are increasingly aware of the challenges in delivering projects such as this and the
intrinsic land and building value they now hold,” Mr Moreland said.
Griffin is a residential and semirural suburb in the Moreton Bay Region, about 22km north of the Brisbane CBD.
Goodstart Early Learning, at 60 Wesley Road, Griffin, sold for $7.7m.
The Goodstart childcare centre is opposite Griffin State Primary School — a $22m extension was recently completed at the school which now accommodates 1,159 students.
PropTrack data reveals the median house price in Griffin is $985,001, up 15.1 per cent over 12 months.