Perth childcare centre sells for record yield

A new childcare centre in North Coogee has been sold off-market to a syndicate arranged by Perdaman for $7.1 million.

Savills, which negotiated the transaction, said it represented a record-breaking sale for childcare centres in Perth to date.

The two-level centre is located at 53 Orsino Boulevard, adjacent to the Port Coogee Village Shopping Centre, near the marina.

It will include seven separate activity rooms, external play areas on both ground and first floor levels, and can accommodate 125 children.

The centre was designed by architects iWolff Atelier and landscape specialists Site Image, and developed by RG Property. 

Perdaman purchased the centre after Insight Early Learning signed a 15-year lease, with two 10-year options to renew.

Savills agent Barney Dear negotiated the transaction, which achieved a tight yield of 6.25 per cent.

“To date, this is the highest value childcare sale we have seen in the Perth market, and it further demonstrates the strengthening demand for this sector,” Mr Dear said.

He noted three childcare centre sales negotiated by Savills in the last quarter of FY19 had brought strong buyer demand, resulting in tight yields.