Childcare sector dodges subsidy bullet
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“We are working on a number of portfolios at the moment,” Mr Fanous said. “We find when a major Asian group makes an acquisition it comes on the radar of groups you have never heard of.”
Burgess Rawson’s Mr Thomas said having “fallen off a cliff” early in the year, the sector started recovering in March. He pointed to the sale results for two Queensland centres, which attracted 60 bidders combined.
At Buderim on the Sunshine Coast, a 2643sq m corner site leased to Sanctuary Early Learning for 15 years sold for $4.11 million, on a yield of 6.02 percent.
Leased to Petit Early Learning for 15 years, a 2662sq m facility at Port Douglas sold for $2.8 million on a 7.05 per cent yield.
The Buderim property last changed hands in June 2017 on a 6.98 per cent yield. “With all the talk of gloom, I was surprised the differential was only seven basis points and not higher,” Mr Thomas said.
Article source: https://www.smh.com.au/world/north-america/enough-is-enough-it-s-time-for-mueller-to-bring-out-the-big-guns-20180810-p4zwue.html?ref=rss&utm_medium=rss&utm_source=rss_world
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