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63-67 Canning Street, Avondale Heights, VIC, 3034

Properties / Buy / Victoria / Avondale Heights

Tenanted Investment

1. Property Summary

Selling Method

EOI

Selling Details

Closing Tuesday 5th September at 2.00pm (AEST)

Land Area

2,287 m² (*approx)

Floor Area

935 m² (*approx)

Property Type

Child/Healthcare

Sub-type

Child Care

Terms

Recently renewed 20-year lease to 2043 with (2) two further (10) ten year options to 2063

Est. Income

$596,711 p/a

Fully Leased

Avondale Heights Early Learning Centre

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2. Property Highlights

HIGH EXPOSURE CORNER CHILDCARE INVESTMENT & EARLY LEARNING STAPLE FOR MELBOURNE’S INNER NORTH POSITIONED AT THE GATEWAY OF KEY ACTIVITY CENTRE

Returning $596,711pa* + outgoings & GST
20 + 10 + 10 year lease to 2063
Valuable improvements including basement

CBRE Australian Healthcare & Social Infrastructure is pleased to exclusively present for sale, 63-67 Canning Street, Avondale Heights (Cnr Ahern Place). A well established and highly successful staple of early learning for Melbourne’s Inner North.

Featuring substantial main road exposure across one of Avondale Heights and Keilor’s most trafficked thoroughfares (Canning Street/Military Road), the subject property features views of the Medway Golf Club and Maribyrnong River Trail.

+Recently renewed 20-year lease to 2043 with (2) two further (10) ten year options to 2063

+Corner landholding of 2,287sqm* with highly valuable existing improvements including basement parking

+Purpose-built childcare centre licensed for 120 Long Day Care (LDC) places with a building area of 935sqm* plus 25 basement car parks

+Leased to long-term operator Avondale Heights Early Learning Centre – a flagship childcare provider with a proven trading history since 2009

+Annual income of $596,711 + GST & outgoings with fixed 3.5% annual increases

+ Undeniably one of Australia’s leading essential service sectors with continuing demand for childcare services across the country resulting in heightened investment appetite.

+The property’s current improvements are offered at below replacement cost and have significant future reversionary potential.

LOCATION

+Outstanding dual street exposure with multiple frontages of 50m* to Canning Street and 32m* to Ahern Place

+Surrounded by dense educational amenity featuring a high volume of young families. Schools include Avondale Primary School, Saint Margaret’s Primary School, Maribyrnong College, Moonee Ponds West Primary School, Aberfeldie Primary school & Ascot Vale West Primary School

+ Centrally located to an abundance of additional healthcare and retail services including Highpoint Shopping Centre (2km*), Bunnings Maribyrnong (1.6km*), Canning Reserve (380m*), Footscray Hospital (3km*) & Central West Shopping Centre (2.6km*)

+Well connected to public transport including Train, Tram and Bus while also located under 4min* from the Western Ring Road entry/exit which services all Melbourne’s major arterials

FOR SALE VIA EXPRESSIONS OF INTEREST CLOSING TUESDAY 5TH SEPTEMBER AT 2.00PM (AEST)

OPEN FOR INSPECTIONS (By Appointment):

+Thursday 10th August at 11:00am

+ Thursday 17th August at 11:00am

+ Thursday 24th August at 11:00am

+ Thursday 31st August at 11:00am

For further information contact Australia’s market leading Healthcare & Social Infrastructure specialists:

Marcello Caspani-Muto
+61 417 065 777

Jimmy Tat
+61 439 399 118

Sandro Peluso
+61 418 389 757

*approx.

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