Brand New Childcare Centre sells for $4.43m, under the hammer.

MMJ Real Estate WA | 4 months ago
Brand New Childcare Centre sells for $4.43m, under the hammer.

This brand new 96 place licensed purpose-built childcare centre located at 29 Morwell Street, Yanchep was auctioned this morning and saw 3 parties bid for the sought after investment.

Yanchep: approximately 50km north from the Perth CBD and Australia’s third fastest growth suburb with a 29% increase in population from 2015-16 (source: ABS)

The site is located in a strategic position opposite brand new $57m High School, and 200m from McDonald’s and Woolworths anchored Yanchep Central Shopping Centre

Selling agent Chris Geers said the marketing campaign "drew interest from across the country and from off shore and that this transaction highlights the attractiveness of Childcare Centres as investment assets."

The hammer finally fell in favour of an off shore investor after 13 strong bids for a record yield of 6.32% and achieving a record sale price for a free-hold Childcare Centre in Western Australia.

 For more information on Childcare Centre investments in WA contact Chris Geers.