Taree

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<p>A Taree childcare facility was passed in at recent auction.</p>
<p>The result was despite a new 20 year lease ending 2038 with options to 2058 to Little Flippers, an experienced childcare provider with 13 other facilities.</p>
<p>Located at 9 Coolabah Drive, Taree, the property was passed in at $1.8 million.</p>
<p>The recently refurbished 55 place facility is set on 1,051 square metres.</p>
<p>It has an occupancy rate of 94%.</p>
<p>Net income on the lease is $132,000 per annum plus GST and a minimum increase of 3% per annum.</p>
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<div>After auction it was put up for expressions of interest with an indicative price of $1,885,000 (7% yield).</div>
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Taree

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