A premium childcare investment leased to ASX-listed G8 Education Ltd has been brought to the market in Munno Para West and is expected to fetch circa $2.1m - $2.2m.
CBRE’s Mitch Curnow and Harry Einarson have been appointed to market the 917 Stebonheath Road property on behalf of a private investor.
G8 Education has taken a 10-year lease plus three, five-year options over the property, with eight years remaining on its current term, and offering a passing net rental of $136,633 per annum.
Mr Curnow said: “This is a key opportunity to acquire a leased investment in one of South Australia’s fastest growing communities. The ‘Playford Alive’ residential development initiative by the City of Playford is directly adjacent 917 Stebonheath Road and will be home to 40,000 residents upon completion – a favourable prospect for the continued success of a childcare centre.”
“We therefore expect a vast range of interest from local and interstate investors who recognise the underlying investment fundamentals of childcare investments, which have been driving high-level interest in this asset class along the eastern seaboard and now in South Australia,” Mr Curnow said.
The property, which offers a total site area of 2,001sqm, benefits from being directly opposite the $1 billion ‘Playford Alive’ development and near Playford Alive town square.
The Expressions of Interest campaign closes Thursday, October 26, 2017 at 4pm.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
