SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD

Impressive Childcare Investment Leased to Listed Tenant

28-34 Marengo Street, Tarneit VIC

Property Highlights

15 + 10 + 10 year lease to 2052
Sparrow: Market Cap HK$2.7B
4% annual rent increases

Description

+ Secure 15 year net lease to Sparrow Early Learning to 2032
+ Two further 10 year options to 2052
+ Sparrow Early Learning: part of Fullshare Holdings Ltd, listed on the Hong Kong Stock Exchange (SEHK:607), with offices in China, Hong Kong, Singapore, and Australia, and with a Market Cap of HK$2.7billion
+ Desirable 4% annual rent increases with market review at the commencement of each further term
+ Tenant pays all outgoings including: rates, insurances, maintenance and land tax
+ Modern 950 sqm purpose-built child care facility licensed for 120 LDC places
+ Prominent 2,772 sqm site with triple street frontage of over 148 metres and exposure to busy Derrimut Road
+ Located directly opposite Tarneit Central Shopping Centre, underpinned by Coles, Kmart and ALDI along with 45 specialty retailers
+ Tax depreciation benefits
+ Wyndham City: one of Australia’s largest growth areas with forecast growth of 82% to 512,591 residents by 2041 (Source: forecast.id)
+ Net Income: $316,087pa + GST and Outgoings

For Sale by Auction
11am AEDT Wednesday 1 April
Crown Casino, Melbourne VIC

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Childcare
Land Size
2,772 SQM
Building Area
950 SQM

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