Newtown childcare centre flirts with Geelong price record
A new childcare centre in Newtown has threatened the region’s record price for the commercial property class after securing a buyer for $6.025 million recently.
The Federation Children centre at 215 Aberdeen St, Newtown, comes with a near 15-year lease to the childcare provider, which is planning to open a second centre in Geelong’s north this year.
Building on the 2846sqm site opposite Geelong College’s Preparatory School, and previously the home of former Geelong councillor and radio personality Srechko and Paula Kontelj, was completed in late 2018, revealing a 1031sqm double storey facility that’s licensed for 132 long day care places.
Burgess Rawson agents Adam Thomas, Natalie Couper and Zomart He marketed the property on an expressions of interest campaign.
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The new childcare centre at 215 Aberdeen St, Newtown was with a new 15-year lease.
The land value underpinned the investment in Geelong’s premium suburb, close to the growth area in Fyansford.
The childcare sector produced some big results in the region in 2018, including a new Geelong West centre, also sold by Burgess Rawson, that netted $5.45 million at auction.
The Church St centre included a 2481sqm land component, with a 15-year lease with options until 2052. It’s licensed for 137 places.
The new childcare centre at 215 Aberdeen St, Newtown.
A Torquay child care centre holds the highest price in the sector. Initially overlooked at auction, it later sold for $6.1 million by Burgess Rawson.
The 963sqm facility at 1 Pintail Drive, was licensed for 141 places, with a 15 year lease and options until 2063.
This article from the Geelong Advertiser originally appeared as “Newtown daycare centre sells for top price amid strong growth in the sector”.
