CBRE Australian Healthcare & Social Infrastructure is pleased to offer for sale 59-61 Para Road, Montmorency (VIC) A dominate free-standing education investment purpose built to unwaveringly high standards to service the Lower Plenty, Greensborough and Montmorency catchments.
This land rich opportunity features an oversized area of 2,419sqm* and is licensed for 110 places with outdoor spaces comfortably exceeding industry averages. Fixed 4% annual increases ensure sustained long-term returns even before the tax benefits of depreciation.
Overview:
+ Leased to Nino Early Learning Adventures A brand synonymous with success and powerhouse private Victorian operator featuring 12 centres in operation across the state
+15 Year lease to 2035 with (2) two further (10) ten year options to 2055
+ Annual Income of $437,526 + GST with fixed 4% annual increases
+ Modern improvements with high-quality construction elements licensed for 110 places and impeccable maintenance history plus expansive spaces across a building area of 849sqm*
+ Land rich asset with underlying area of 2,419sqm* plus 24 on-site parking spaces
+ Highly serviceable rental of circa $3,900* per place rental with notable future uplift potential*
+ Significant depreciation benefits of $892,000* over the first 5 years of ownership
Location:
+ Bordering both the Greensborough and Montmorency catchments a strong childcare demand ratio over 3:1* and hourly fees having grown by an average of 7%* over the last 12 months
+ Montmorency has witnessed strong value growth in recent years with a 64% increase in median values and now features family income levels 30% above the Victorian average
+ Strong main-road exposure with 45m* frontage to Para Road
+Dense surrounding education institutions including Montmorency Secondary College (0.9km*), Montmorency Primary School (1.1km*), Lower Plenty Primary School (1.1km*) Bianca Fenn School of Music (1.3km*), St Francis Xavier Primary School (1.7km*), Streeton Primary School (1.8km*), Watsonia Heights Primary School (1.8km*), Montmorency South Primary School (1.8km*), Panorama Height's Preschool (2.0km*), and more
+ Close proximity to retail and medical amenity, including Monty Clinic (0.6km*), Lower Plenty Shopping Centre (1.0km*), Monty Village (1.1km*), Montmorency Aldi (1.4km*), Greensborough Shopping Centre (2.7km*), Greensborough Medical Centre, Plaza and more
Forthcoming Sale
For further information, please contact the exclusive sales and marketing agents:
Marcello Caspani-Muto
+61 417 065 777
Sandro Peluso
+61 418 389 757
Jimmy Tat
+61 439 399 118
approx*
