An Affinity Education leased childcare freehold located at 18 Osborne Road, Mitchelton has sold under the hammer through a hotly contested auction, handled by Stonebridge Property Group’s – James Freemantle, Tom Moreland, Michael Collins and Thomas Probers.
18 registered bidders participated in the auction with competition across our Brisbane, Sydney and Melbourne auctions rooms ultimately resulting in 41 total bids, selling ~$1m over reserve for $4,700,000 reflecting a 3.37% yield – a Queensland record.
Commenting on the sale, James Freemantle said: “the local Brisbane based private investor who secured the property under auction conditions was ultimately drawn to the high underling metro land value, imminent rental uplift and strong position diagonally opposite a major shopping centre on a busy local arterial.”
“Despite recent media uncertainty and speculation of an oversupply of childcare centres on the market, we know that childcare remains an investor favourite and ticks a lot of boxes given it’s long term importance to the broader economy and resilient fundamentals of the freeholds” said Stonebridge Partner Tom Moreland.
Occupying a considerable 2,268 sqm* corner lot, the 75 place facility undergoing recent refurbishment was securely leased to 2030 plus one option to 2035 with uncapped CPI annual rent increases.
Stonebridge is currently marketing the below affordable SEQ childcare investment as part of their October National Portfolio Auction event scheduled for Friday 31 October at 11am (AEST).
- · Goodstart Beaudesert ($151,148 pa* + GST)
- · Goodstart Maleny ($146,828 pa* + GST)
- · Canopy Early Education Wilsonton ($239,400 pa* + GST)
- · Bay Explorers Deception Bay ($143,532 pa* + GST)
For further information on the above sale or current opportunities, please contact the Stonebridge team:
James Freemantle | +61 421 140 876 | jfreemantle@stonebridge.com.au
Michael Collins | +61 404 023 204 | mcollins@stonebridge.com.au
Tom Moreland | +61 408 072 822 | tmoreland@stonebridge.com.au
Thomas Proberts | +61 439 588 019 | tproberts@stonebridge.com.au
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