Notable Newcastle childcare centre comes to market

27 September 2023

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.

ā€œWhen 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,ā€ Mr. King said.

ā€œNot 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.ā€

ā€œAny 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,ā€ 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).