Rare chance to buy ‘unicorn’ Tassie childcare property
Childs Play Early Learning at No.1 Rowitta Rd, Lindisfarne. Picture: Supplied
YEARS will often pass by without an asset of this type hitting the market in Tasmania.
And that just makes the buzz grow louder for this Hobart Eastern Shore childcare property, heading to auction in early August.
Prior to this purpose-build centre hitting the market, there has been just a handful of this type of property sold in Tassie over the past decade.
The most recent sales were Gaia’s Nest on Pass Rd in September 2021, No.4 Millview Dr, Oakdowns in 2015, and No.52 Steele St, Devonport in 2014.
Across Australia, childcare properties are in high demand, and the agents for this 2170sq m property on a corner site in a blue-chip suburb are expecting fierce competition to acquire it.
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No.1 Rowitta Rd, Lindisfarne.
Natalie Couper and Matthew Wright from Burgess Rawson described No.1 Rowitta Rd, Lindisfarne as a “unicorn”, and a “highly coveted asset” that is leased to an experienced operator, Child’s Play Early Learning.
Burgess Rawson partner, Mr Wright, said with more urban sprawl and growth interstate than here, childcare is popping up everywhere. But in an established, tightly held suburb like Lindisfarne, there are not a lot of land options to build an asset of this type.
“The fundamental thing here is occupancy, and this centre has a waiting list of over 200 children. And that underpins your rent,” he said.
“The government rating of this centre is high, it’s in a great spot, and it is close to primary schools.
“We have not had a childcare centre to sell in Tasmania in many years, it is a unicorn.
“It is such a tightly held type of commercial property in Tassie, it’s very rare to see one come to market.”
No.1 Rowitta Rd, Lindisfarne.
The centre is licensed for 94 long day care places, and being a new build — in operation since 2021 — still offers significant depreciation benefits.
There is a 20-year net lease, with 18 years left, and including options to 2062.
The property’s net income is currently $259,530 per annum plus GST. The tenant pays all the usual outgoings, including single holding land tax.
Located within a significant schooling precinct, the position is 100m from St Cuthbert’s Catholic Primary School, 650m from Lindisfarne North Primary School, and within a 3km radius of nine primary and secondary schools.
No.1 Rowitta Rd, Lindisfarne.
The centre is also within 260m of Lindisfarne’s main shopping precinct, featuring Woolworths, Chemist Warehouse, various eateries, and a medical centre.
No.1 Rowitta Rd, Lindisfarne will be among four high-profile Tasmanian assets set to be sold under the hammer in August, including buildings leased to Zap Fitness, Petbarn and Nandos.
They will be for sale at the forthcoming Burgess Rawson Portfolio Auction, starting at 10.30am on August 7, at the Crown Casino in Melbourne.
