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The Early Learning Center at 73-75 Tareda Way, Ocean Grove was sold for $3.3 million.
Cheap money and government policies have prompted investors to profit from young children in Victoria.
In a recent auction event, people increasingly realized that the early learning center is an “essential service”, which helped a small portion of them get big sales.
Burgess Rawson’s portfolio auction this week included four Victoria Centres with a total transaction value of less than $24 million.
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Director Adam Thomas said that since October last year, the demand for investment in childcare has been growing, but there has been a boil at the recent auction. They attracted as many as 12 registered bidders, all bidders. They all sold their millions of dollars of purchases for less than 5%.
Many investors know that the federal government’s support during the national blockade last year effectively guaranteed the income of the owners and kept the center open to the children of basic workers.
No. 2A-4 Roseberry Grove, Glen Huntly, priced at US$6.905 million.
This year’s budget announcement will provide subsidies for parents to take care of their second child-adding fuel to the needs of investors.
“They are of course essential services,” he said.
One, Belmont (Geelong) property related to Bean Squeeze coffee shop, Sold to an investment group with supporters in Sydney and Hong Kong for $7.6 million.
322-328 High St, Belmont, a combination of early education and a drive-in coffee shop.
In Ocean Grove, G8 Education Center’s revenue was US$3.3 million, while Sunbury Center’s revenue was US$6.11 million, and Glen Waverley’s Evolve Early Education revenue was US$6.905 million.
“What we are really seeing is a real resurgence in confidence in childcare assets,” Mr. Thomas said.
“All Victorian childcare centres sell for less than 5%.”
The Early Learning Center at 85 Belleview Drive in Sunbury was sold for US$6.11 million.
But the busiest auction was a Foodworks supermarket in Sunbury, with 16 bidders registered and a turnover of $1.925 million.
The portfolio auction will sell 41 properties across the country, 14 of which are in Victoria.
Mr. Thomas said that Victoria’s listing price was 11% above the reserve price on average due to “pent-up demand”, and the Reserve Bank of Australia’s comments indicate that interest rates will remain at historically low levels for many years.
He estimated that compared with the same period last year, commercial real estate yields fell by 1.5-2%.
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