Opportunity to purchase this property leased to an established, national childcare operator. An 8 year term has just commenced with 2 x 6 years, right of renewals.
The site has been operating as a childcare centre since 1994. The proven tenant operates more than 10 other sites around the country, and has committed to a significant investment in the refurbishment of the property.
The lease contains built in rental growth at CPI or 1%, whichever is greater, with a 'hard ratchet' clause in place ensuring rent cannot go down.
There is possible future development opportunities presented by the site being split into 3 titles, main road frontage, and additional access road at the rear of the site.
The vendor has a Registered Valuation to support the asking price.
Features:
Established centre, proven tenant
Returning $112,500 p.a.
8 year lease with 2 rights of renewal of 6 years
Tenant investing in further refurbishment
Rental growth at CPI or 1%; 'hard ratchet' clause in place
Possible future development options
Price $1,630,000 (+ GST if any)
