Retail and childcare centre a winning combination for investor

An interstate investor has acquired Dakabin Village, a highly sought-after convenience and childcare centre which has been family-owned for 18 years, for $3.56 million.

Located at 90-94 Whitehorse Road, the 713 sqm GLA convenience centre is anchored by Little Legends Early Learning Centre and a SPAR Supermarket with a total centre WALE of 3.2 years by income.

Located on a prominent 2,252 sqm corner site, this asset has substantial underlying land value and is positioned within a major growth corridor in Southeast Queensland.

CBRE’s Harrison Coburn managed the sale, which reflected a 5.86% yield.

Mr Coburn said the campaign received significant interest with 138 direct enquiries and six competitive offers presented.

“The high growth Southeast Queensland corridor which Dakabin is located within was extremely attractive to those groups that participated in the EOI along with the rental upside that was available in years to come,” he said.

“We expect assets that sit within the sub $5 million price point to continue to be well received from the private investor market. These investments provide easily managed income streams and certain income growth via their fixed annual increases.”