A private investor has acquired a Goodstart Early Learning leased freehold in Brisbane’s north for $7,700,000 at a 5.30% yield, demonstrating the ongoing demand for well-located childcare assets in growth suburbs.
The sale of Goodstart Early Learning, located at 60 Wesley Road, Griffin, was brokered by Tom Moreland, Michael Collins, Thomas Proberts and James Freemantle of Stonebridge Property Group via an on-market campaign which generated over 135 enquiries.
Completed in 2021, Goodstart Griffin was strategically developed to address an undersupply in the suburb which is experiencing significant growth. The centre holds an ideal position, directly opposite Griffin State Primary School, whereby a $22 million extension was recently completed, now accommodating 1,159 students.
The purpose-built 110 place facility occupies a large 2,405sqm* landholding and is secured by a 15-year net lease to 2035 with options extending to 2055, plus CPI linked annual rent increases, providing investors with long-term income security.
Tom Moreland, Partner at Stonebridge Property Group, commented, “Private investors continue to engage across premium childcare offerings, particularly those for modern centres in key metropolitan and regional growth locations. Buyers are increasingly aware of the challenges in delivering projects such as this and the intrinsic land and building value they now hold.”
Associate Director, Thomas Proberts, added, “Newly built Goodstart freeholds are rare-to-market nationally, courtesy of the tenants significant existing footprint. This, coupled with excellent lease fundamentals and strong depreciation benefits combined to drive significant interest from over 135 investors and a benchmark 5.30% yield.”
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