Southern investors eye off Allenstown property
SOUTHERN investors are continuing to snap up Rockhampton commercial property with an Allenstown childcare centre the next premises expected to sell to an out-of-towner.
Following the sale of a Dean St, Frenchville Affinity Education Group childcare centre for $1.885 million to a Melbourne investor last month, the Allenstown Childcare Centre has hit the market through commercial real estate agents Burgess Rawson.
The Dean St property, which boasts a new income of $127,300pa, was sold by agent Jamie Dewe ahead of Burgess Rawson's first interstate investment auction of the year on February 21.
"There was a lot of interest in the property, we had about 35 inquiries,” Mr Dewe said.
"The former owners are very happy with the outcome. They were Rockhampton locals but have since moved to Brisbane.”
Mr Dewe said it was business as usual at the childcare centre, with seven years remaining on Affinity's lease.
With such high interest in the Frenchville centre, Burgess Rawson are hoping for a similar result when the Allenstown property, located at 27 Ross St, goes under the hammer in Melbourne on April 5.
The 2731sq m property, which is also leased to national childcare provider Affinity Education Group until 2024, features a 30m frontage, 24 on-site car parks, extensive play equipment including sandpits and fixed play equipment, a laundry and kitchen and five air-conditioned education rooms with adjoining amenities and direct access to external activity areas.
Investors can expect a net income of $127,300pa, with all usual outgoings including land tax paid by the tenant.