A prominent 110 place childcare centre in the heart of the Newcastle region is set to provide a long-term investment opportunity after coming to market.
Located in a strategic position among a local shopping centre, the 1,812sqm centre at Lot 1, 17 Laycock Street in Carey Bay is in a multi-tenanted strata complex and provides a net income of approximately $352,000 per annum.
The centre, which recently won an MBA award for best renovation, provides a facility for children aged six weeks to six years, the adaptive reuse of the existing dwelling and state of the art resources making a highly sought-after commodity.
The property is being offered exclusively through the Colliers team of Ben King and Tim Woolf, with price expectations above $6.4 million.
“When a property of this nature is offered to the market with the length of the lease term, it always creates a great deal of interest from not only local but national investors,” Mr. King said.
“Not only does the property have an exceptional tenant operating in a strong market sector, but the building itself has been recognised for its exceptional construction with building awards.”
“Any asset with long term leases and a good covenant is always received well, and current market transactions have seen yields hold firm due to the tightly held nature of these assets,” Mr. Woolf added.
Lot 1, 17 Laycock Street, Carey Bay is for sale via an Expressions of Interest campaign closing Wednesday, 18th October 2023 at 4pm (AEDT).
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