Well-established Maddington childcare centre sells for $2.05M

A LOCAL investor has purchased a well-established childcare centre operated by premium tenant and publicly listed national company, G8 Education Limited, as 1 Helm Street in Maddington sold for $2.05 million on a 6.65 per cent yield.

The property, that sits on a 2,011sq m* site area, offered a prime corner position along the Albany Highway with access from Helm Street.

The asset was marketed and sold by Ray White Commercial (WA) Sales and Leasing Agents Enrique Reyes and Josh Sumner.

“The property ticked all the boxes when it came to the current trend of active investors looking for long-term stable tenants and the opportunity to grow,” Mr Reyes said.

“Home to G8 Education’s childcare brand, Buggles, the asset features a well-maintained building for the indoor classrooms and facilities, a secure outdoor play area, and a front carpark.”

“Maddington is just 18km* from Perth and contains major residential, retail and industrial sectors, as well as some semi-rural areas within 11 square kilometre land area,” Mr Sumner said.

“We had over 37 enquiries in the first week which resulted in more than 12 inspections taking place with the buyer inspecting the property and making a cash offer the same day, cancelling the rest of the expression of interest campaign.”

“We are proud to have been able to create the right competitive environment to be able to achieve a result over and above our client’s expectations.”

Shemlex Pty Ltd is a wholly owned company under ASX Listed G8 Education Ltd operating the childcare brand, Buggles.

Shemlex Pty Ltd has been a tenant in the property since 2006 and has now just signed a new lease with options up to 15 years.

Buggles Childcare is one of only three long daycare centres in the suburb, is the only national brand there, and is situated along Albany Highway. The centre is an 82-place childcare facility.

*Approximately.