349 High Street Prahran VIC 3181

Burgess Rawson is pleased to offer to the market, 349 High Street, Prahran VIC for sale via our Auction Investment Portfolio 157.

This investment has the following key investment highlights:

+Secure triple net lease to Guardian Childcare to 2032.
+Tenant has exercised 5-year option to 2032 in advance.
+Guardian Childcare: leading national early education provider, educating more than 10,000 children per day across over 135 locations.
+Annual CPI reviews with 'ratchet provisions' at market review, ensuring rent cannot reduce.
+Strong trading business with 100% occupancy & long waitlist.
+Tenant pays 100% of outgoings including: all maintenance (capex & structural), rates, land tax (single holding), insurance and management fees.
+Well-maintained childcare centre licensed for 42 LDC places.
+Rated 'Exceeding' under the National Quality Standards (NQS)
+High profile 686sqm* main road corner site with frontages to Lewisham Road North and High Street, with exposure to 18,000+ passing vehicles daily.
+Situated amongst significant educational precinct 10 schools within 1.5 kilometre radius
+Conveniently located amongst one of Melbourne's most iconic metropolitan retail precincts, fronting the well-regarded High Street, and within metres from Chapel Street, providing access to a range of fashion, dining, lifestyle and entertainment options.
+Prahran: highly desirable and sought-after south-eastern suburb with a median house price of $1.8 million.
+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 2021-22, the Federal Government added a further $1.7 billion to the $10.3 billion already budgeted for the year*
+Net Income: $102,043 pa + GST.

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

For Sale by Investment Portfolio Auction
10:30am (AEST) Wednesday 7 December 2022
Crown Casino - River Room