21-22 Crosbie Road Murrumbeena VIC 3163

Burgess Rawson is pleased to offer to the market 21-22 Crosbie Road, Murrumbeena (Melbourne) VIC for sale via Expressions of Interest

This opportunity has the following key investment highlights:
+ Long 23-year net lease to Sparrow Early Learning to 2040.
+ Two further 10-year options to 2060.
+ Sparrow EL: 56 centres nationally, a subsidiary of Hong Kong listed Fullshare Holdings Ltd.
+ Rare 4% fixed annual rent increases.
+ Generational investment with strong underlying land value.
+ Tenant pays all outgoings including land tax.
+ Premium purpose-built centre, licensed for 112 LDC places.
+ Established and successful centre in operation since 2016.
+ Positioned within an exclusive educational catchment precinct (12 schools within 2 kilometre radius) & Glen Eira's elite sporting hub, including Duncan Mackinnon Reserve & GESAC.
+ High profile and substantial 2,202sqm* site fronting Crosbie Street with immediate access to North Road, servicing 38,380 vehicles passing daily.**
+ Murrumbeena: tightly held family-friendly suburb, with a median house price of $1,600,000+ and within 13km of the Melbourne CBD.
+ Child Care/Early Education is an essential service with both the Federal and State Governments allocating unprecedented funding to the sector. In the 2022-2023 period, the Federal Government is projected to contribute $10.7 billion in funding plus an additional $4.7 billion to deliver more affordable child care, which includes increasing the Child Care Subsidy (CCS) rates from July 2023. This reform aims to enhance the affordability of early education and care for approximately 96% of families with a child in care.***
+ Net Income: $511,188 pa* + GST

For Sale via Expressions of Interest
Closing 4:00pm (AEST) Thursday 21 September 2023

Please contact the exclusively appointed Burgess Rawson childcare team for more information.

*approximate
**gapmaps
***forecast.id
****Australian Government - Department of Education | Child Care Subsidy Reform