 Asset Class: | Child Care |
 Price: | $ 1850000 |
 Net Yield: | 5.97 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | Pre Market |
Cubby Care Main Street comprises a boutique 45-place child care centre, leased to Evolve Early Education Pty Ltd (part of the ASX-Listed (ASX: EVO) Embark Early Education Ltd). The centre is currently returning $110,436* per annum + GST and Outgoings, with corporate guarantees and provides options until 2043, with CPI annual increases (ratchet clause of a minimum 3% increase).<br><br>The property provides over 20m* of exposure to Main Street, a major arterial road with 22,000+ vehicles passing daily. This highexposure position on Main Street provides convenient access with onsite parking for 3 vehicles, allowing for easy pick-up and dropoff access for parents.<br><br>The centre benefits from four individual child care rooms – under 2 years of age, 3-4 and 4-5-year-old rooms, as well as providing access to the large outdoor play areas. These substantial outdoor play areas include large shade sails, soft fall matting, sandpits, and natural playscapes. Further to this, the centre provides respectable amenities for staff, as well as several storage options.<br><br>Cubby Care Main Street benefits from its strategic position with a catchment of 4,600 students* from 11 schools located within 4km* of the centre, and with Bairnsdale Primary School ideally positioned 150m* from the centre. This immediate catchment has assisted Cubby Care Bairnsdale build a strong trading history, 100% occupancy and a waitlist.<br><br>Please note because it is in a regional location 50% stamp duty concession would be applicable and there is an increase of 3% or CPI coming up on the 27th February this year.
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** The current rent of $110,436 per annum + GST and Outgoings is about to increase by CPI (min. of 3%) in 27th February 2025 to $113,749.08
Additional Financial Information FileInitial Term:
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Subject Property: $2,454 Per Place 103 Main Street Gembrook | 53 places | $3,400 Per Place 100 Beveridge Street Swan Hill | 72 places | $2,794 Per Place 1 Pintail Drive Torquay | 141 places | $3,672 Per Place 1 Saffin Court Bannockburn | 126 places | $3,053 Per Place 16-18 Harry Vallence Drive Bacchus Marsh | 103 places | $3,029 Per Place
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<ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">A 17-year initial lease term plus options until 2043</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);font-weight:bold;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:normal;"><b>An ASX-listed operator Evolve Early Education (part of the Embark Early Education Pty)</b></span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Annual CPI increases (with a ratchet clause of a min. 3% increase)</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">True triple net structure with the tenant paying all outgoings including maintenance (both capital and structural), rates, management feeds and land tax (single holding basis)</span></p></li><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Boutique 45-place Child Care Centre with strong trading history with 100% occupancy and waitlist </span></p></li><li style="list-style-image:none;color:rgb(58, 62, 67);"><p style="display:inline;"><span style="color:rgb(58, 62, 67);font-weight:normal;font-style:normal;">Favourable lease security with corporate guarantee in place</span></p></li><li style="list-style-image:none;color:rgb(58, 62, 67);"><p style="display:inline;"><span style="color:rgb(58, 62, 67);font-weight:normal;font-style:normal;">Over 20m* of exposure to Main Street, a major arterial road with 22,000+ vehicles passing daily</span></p></li><li style="list-style-image:none;color:rgb(58, 62, 67);"><p style="display:inline;"><span style="color:rgb(58, 62, 67);font-weight:normal;font-style:normal;">Ideally positioned just 150m* from Bairnsdale Primary School</span></p></li><li style="list-style-image:none;color:rgb(58, 62, 67);"><p style="display:inline;"><span style="color:rgb(58, 62, 67);font-weight:normal;font-style:normal;">The new $5.4 billion federal government child care package commenced in July 2023, and with the Bairnsdale median family income sitting at $57,252** the majority of the local community qualifies for the full subsidy of up to 90%</span></p></li><li style="list-style-image:none;color:rgb(58, 62, 67);"><p style="display:inline;"><span style="color:rgb(58, 62, 67);font-weight:normal;font-style:normal;">East Gippsland is a thriving regional with forecasted population growth of 22% by 2041</span></p></li><li style="list-style-image:none;color:rgb(58, 62, 67);"><p style="display:inline;"><span style="color:rgb(58, 62, 67);font-weight:normal;font-style:normal;">Positioned less than 1.1km* from Bairnsdale Station, Coles, Woolworths, Aldi, Dan Murphy’s, McDonald’s, KFC, Chemist Warehouse, Hungry Jacks and more</span></p></li></ul>
