SOLD

50 Banyan Drive, Cranbourne West, VIC 3977

Brand New Childcare Investment with 20 Year Triple Net Lease

+ New 20 year Triple Net Lease to Imagine Childcare & Kindergarten to 2040
+ Two further 10 year options to 2060
+ Imagine Childcare & Kindergarten: long established and highly successful early education provider with 13 centres nationally
+ Triple Net Lease - tenant pays 100% of outgoings including: all maintenance, insurances, rates, management fees and land tax (single holding basis)
+ Desirable 3% annual rent increases with ratchet provisions at market review, ensuring rental growth
+ Prominent 2,670 sqm site accommodating a brand new double storey 767 sqm purpose-built child care facility licensed for 124 LDC places
+ New construction with significant depreciation benefits
+ Prominent corner position within the rapidly evolving Lochaven Residential Estate, metres from both Cranbourne Secondary College (1,200 students, opening Q1 2021) and the Woolworths-anchored Cranbourne West Shopping, and with direct access to Evans & Cranbourne-Frankston Road’s
+ The City of Casey: one of the fastest growing and most populous municipalities in Australia, home to 353,872 people, supporting 67,648 jobs with an annual economic output of $20.185 billion
+ Net Income: $385,516 pa + GST

For Sale by Investment Portfolio Auction
10:30am (AEDT) Wednesday 9 December