Centre up for auction
A major Toowoomba childcare centre will go under the hammer, less than three years after it was bought for a whopping sum.
Burgess Rawson has listed the Genius Childcare site on Ruthven Street in Kearneys Spring on the market.
The 130-place centre will go to auction on June 23, with investors expected to be attracted by the property’s long lease and 3.5 per cent annual rent increases.
Burgess Rawson highlighted how the Federal Government’s financial backing of the childcare centre made the property a worthy investment.
“(This is) strategically positioned metres from two major shopping centres including the Coles/Kmart-anchored Toowoomba Plaza, and The Ridge Shopping World underpinned by Woolworths and within proximity to numerous national retailers, including Harvey Norman, The Good Guys, Spotlight and Anaconda,” the online listing said. “Childcare and early education is an essential service and one of Australia’s most sought-after asset classes, with the federal and state governments providing record funding of $10.5 billion to the sector in the 2019/20 financial year.”
The centre was last sold through Burgess Rawson in 2018 for $4.1m.
For more information, call Natalie Couper on 0413 856 983 or Adam Thomas on 0418 998 971.