Stonebridge Property Group is pleased to announce the sale of Giggle and Learn Lugarno, the sole childcare provider in the catchment.
Giggle and Learn Lugarno is an impressive Sydney metro childcare centre positioned directly opposite a major primary school in an undersupplied childcare catchment, with 6.8 children for each available place.
The centre is secured by a brand new 20 year net lease, plus options extending to 2064, with fixed 3% increases.
Following a competitive campaign that generated 112+ enquiries, the property was sold for $5,900,000, reflecting a strong yield of 4.78%.
Commenting on the sale Michael Collins, Partner at Stonebridge, said “Recording a record rate of $147,500 per LDC place, this sale marks the strongest result in this respect of the past financial year, with the asset fielding 112+ genuine enquiries courtesy of the ideal position directly opposite a major primary school, with a monopoly as the only childcare centre in the suburb.”
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