11 Kimberley Drive

Chirnside Park VIC 3116

This opportunity has the following key investment highlights:
+ New 20-year net lease to Story House to 2043.
+ Three further 5-year options to 2058.
+ Story House: leading early childhood education provider, with a network of 50 centres across the eastern seaboard.
+ Desirable 3% annual rent increases.
+ Tenant pays all outgoings including land tax.
+ Multi level state-of-the-art centre licensed for 110 LDC places.
+ New construction with significant depreciation benefits.
+ Strategic 1,735sqm* site, opposite Chirnside Park Shopping Centre underpinned by Coles, ALDI, Woolworths, Kmart and supported by 110 specialty retailers and only 1.1km* from Chirnside Homemakers Centre and Bunnings.
+ Situated within a significant education precinct (11 schools within a 3km radius).
+ Chirnside Park: affordable family-oriented suburb situated only 30km* from 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 childcare, 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 (1.2 million) with a child in care^
+ Net Income: $434,500 pa* + GST

For Sale via Offers to Purchase.

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