Ballarat sale shows childcare centres remain asset of choice for investors across Victoria
A new Ballarat child care centre, leased to Beginnings Early Learners, has sold for $4.7million, seven days after being listed with Savills Australia.
CBD & Metropolitan sales agent, Mark Stafford, brokered the off-market deal for 2 Mia Street, Alfredton, following a failed expressions-of-interest campaign with a competitor agency.
Mr Stafford said the sale price represented a 7.46 per cent yield.
It reflected a rate of $36,154 per place.
“Savills was able to act swiftly for our vendor, with the property being snapped up by a local investor attracted by the high-growth location, strong rental yield and brand new building,” Stafford said.
“The deal highlights the strong demand we’re experiencing for income-producing assets with long-term leases.”
The transaction comes on the back of Savills recent sale of a childcare centre at 17 Station Street, Pakenham, which sold with a six-day settlement.
