A brand-new childcare centre in Werribee’s major activity centre has been listed for sale and the asset is tipped to attract significant investor interest.
CBRE’s Australian Healthcare & Social Infrastructure team of Sandro Peluso, Marcello Caspani-Muto and Jimmy Tat are managing the sale of 24 Scotsburn Grove via an Expressions of Interest campaign.
Mr Peluso noted the property has significant underlying land value and Activity Centre zoning with development potential of up to five levels as per independent planning advice.
The childcare centre was constructed in 2024 and is fully occupied by Explorers Early Learning with a 15+10+10 year lease. The centre is licensed for 132 places with an annual rental of $422,400.
Mr Peluso said, “We consistently see Explorers leased centres amongst the most sought after in market due to the quality of the covenant. Almost any service across Victoria run by this business is near complete capacity, which is testament to the quality of the business and parents’ positive perception of the service across the state. This translates to incredibly strong investor confidence.”
Marcello Caspani-Muto added, “The rental is well below market levels for this asset at $3,200 which allows the benefits of notable potential rental reversion but, more importantly, long-term tenant success. Given the strong occupancy track record of Explorers and their strong daily fees this will be a highly profitable business for a long period and should give investors substantial confidence in long-term retention for their passive holding.”
The Expressions of Interest campaign will close in mid-July.
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