10/38 The Promenade Australind WA 6233

Burgess Rawson is pleased to offer to the market, 38 The Promenade, Australind (Bunbury) WA for sale via our Investment Portfolio Auction 160.

This opportunity has the following key investment highlights:

+ New 15 year net lease to Young Bucks ELC to 2038.
+ One further 10 year option to 2048.
+ Young Bucks ELC: established operator with three Western Australian locations.
+ Fixed 3% annual rent increases.
+ Tenant pays all outgoings including land tax, insurances, rates, and management fees.
+ Two storey child care centre licensed for 61 LDC places.
+ New construction with significant depreciation benefits.
+ Strategically situated amongst an expanding retail precinct, adjoining the Woolworths-anchored Treendale Shopping Centre, and within metres from McDonald's, Hungry Jacks, KFC, and Bunnings.
+ Located within an important schooling precinct northeast from Bunbury CBD 8 schools within a 3 kilometre radius.
+ Greater Bunbury: the economic hub of the south-west region of Western Australia with a Gross Regional Product (GRP) of $7.17 billion (2021-22), including $1.7 billion of infrastructure projects planned to deliver a 'Digital City'.
+ Childcare/Early Education is an essential service and one of Australia's most sought-after asset classes, with both Federal and State Governments providing record funding in 2022, the Federal Government added a further $1.7 billion to the $10.3 billion already budgeted for the year^.
+ Net Income: $249,600pa* + GST.

For Sale by Investment Portfolio Auction
10:30am AEST Wednesday 10 May 2023
Crown Casino, Melbourne

*Approx.
^Mitchell Institute, Australian Investment in Education: Early Childhood Education and Care (ECEC).