Bellmere child care facility sold for $4.7 million

A childcare centre in Bellmere, just north of Brisbane has been sold for $4.68 million transaction.

The purpose-built property is occupied on a 15-year lease with option by the UK-based childcare group, Busy Bees, a global childcare organisation backed by a Canadian pension fund with approximately 600 centres around the world including and 40 (and growing) in Australia.

The Bellmere facility has 120 childcare places on its approximately 3,482 sqm site.

Deepen Khagram of RE/MAX U said, "the buyer was initially wanting a service station to add as an asset to his self-managed superannuation fund but he saw this site offered an excellent opportunity and a solid investment asset."

“He transacted the deal while travelling overseas on holidays,” Mr Khagram said.

The sale price reflected the yield of 6.15 percent.