The sale childcare centre in North Coogee has set a new record for the area after it was bought for $7.1 million. 

Situated at 53 Orsino Boulevard, the centre was developed by property investment and development firm, RG Property and pre-sold prior to completion of construction.

The building is located in the heart of Port Coogee town centre, adjacent to Port Coogee Village Shopping Centre, with views to the marina.

At a glance:

• A childcare centre at 53 Orsino Boulevard, North Coogee has been sold off-market for $7.1 million at a yield of 6.25 per cent.
• According to Savills, the sale is the largest of its kind in the Perth area.
• The deal was brokered by Savills agent Barney Dear.

Spread across two levels, the centre includes seven separate activity rooms, external play areas on both the ground and first levels, and places for 125 children.

Savills Australia agent Barney Dear negotiated the benchmark sale in an off-market transaction, achieving a tight yield of 6.25 per cent in what was the highest value childcare sale seen in the Perth market

He said the transaction demonstrated the strengthening demand for the sector.

“Savills was involved in three childcare sales in Perth in the last quarter of 2019, and in each case we experienced strong buyer demand, resulting in tight yields," he said.

Perdaman purchased the centre upon the signing of a 15-year lease by new tenant Insight Early Learning, who have two 10-year options to renew.

The tenancy will provide Perdaman’s investors with strong passing income and fixed growth through the term of the lease.

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