Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Deal of the week: Forthcoming childcare facility nets $7m

By Juliet Helmke
04 August 2022 | 1 minute read

The first phase of a three-stage development in Queensland’s Moreton Bay has sold for $6.98 million, reflecting a yield of 5 per cent.

The site, which is pre-leased to Lead Childcare on a 15-year term with options and also includes a swim school, attracted more than 25 offers and 200-plus inquiries, indicating that interest in the development is strong.

The project, known as Rothwell Edge, is located on a high-traffic parcel at 560 Anzac Avenue, Rothwell, with a 60-metre frontage to the road, which counts more than 40,000 daily passing vehicles.

Ray White Commercial Queensland father-and-son team Stephen and Elliot Kidd brought the lot to market and were able to make the sale off an expressions of interest campaign.

“It’s not every day you can secure a well-leased asset on a long-term lease, in such a high profile location that already benefits from one additional stage of development completed and one more to commence shortly,” Stephen Kidd said.

Elliot Kidd added that childcare centres were currently “one of the hottest asset classes we are dealing with in the current market”.

“We have so many buyers looking to buy off-market centres at the moment — up and down the eastern sea-board with the importance of childcare centres being reinforced nationally during COVID — with childcare one of the first sectors to receive funding to ensure parents could remain in work,” he said

The purchaser of the lot was a Brisbane investor who reportedly has other investments in the asset class.

Investors and local businesses alike seem to have high hopes for the development of the area. The catchment group in which Rothwell Edge lies is expected to increase its population by at least 10,000 residents and more than 4,000 households by 2026, bringing with it $17 million in retail expenditure.

Stage two of Rothwell Edge is already in operation and trading strongly, incorporating a Pearl Energy fuel station and popular Greek food outlet The Yiros Shop with a drive-thru.

The site’s developer, Wentworth Group Properties, expects to break ground on stage three this year, with completion due in 2023, and leases for the retail and hospitality offerings in that precinct attracting considerable interest. Café 63, which boasts dozens of locations across Queensland, has already signed on to a space in the laneway-style dining area to be known as The Courtyard.

“The end product will provide a truly high quality mixed-use development where each stage is connected and interacts with each other,” Stephen Kidd remarked.

Deal of the week: Forthcoming childcare facility nets $7m
rothwell edge childcare facility reb vkqe0r
lawyersweekly logo

Tags:

ABOUT THE AUTHOR


Juliet Helmke

Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.

Never miss a beat with

Stay across what’s happening in the Australian commercial property market by signing up to receive industry-specific news and policy alerts, agency updates, and insights from reb.

Subscribe to reb Commercial:

Rankings
rankings
JUST RELEASED
May 09, 2022

REB Top 50 Women in Real Estate 2022

REB is thrilled to present the Top 50 Women in Real Estate 2022 ranking, which sets t ... LEARN MORE

rankings
JUST RELEASED
May 04, 2022

REB Top 100 Agents 2022

Now in its second decade, the REB Top 100 Agents 2022 rankings are the most revered s ... LEARN MORE

rankings
JUST RELEASED
May 02, 2022

REB Top 50 Agents NSW 2022

Even a pandemic has not put the brakes on the unstoppable property market in NSW, whi ... LEARN MORE

rankings
JUST RELEASED
April 27, 2022

REB Top 50 Agents VIC 2022

The COVID-19 crisis has not deterred the property market in Victoria, which has been ... LEARN MORE

rankings
JUST RELEASED
April 25, 2022

REB Top 50 Agents QLD 2022

As the property market continues to roar in Brisbane and Queensland, the REB Top 50 A ... LEARN MORE

Coming up

rankings rankings
Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.