A childcare centre had been snapped up in the inner-city suburb of Rosebery following aggressive bidding in an on market expression of interest campaign. 

The sale is a nod to the extraordinary demand the commercial market continues to demonstrate for childcare sites, existing centres and investment opportunities. 

While the ultimate sale price is confidential, the competitive interest at the conclusion of the campaign was at circa $5 million.

Located at 34-36 Dalmeny Avenue, the property is set across two titles and has approval for a 59-place childcare centre.

The property was marketed by Ray White Commercial (SC) agents Samuel Hadgelias, Leslie Li, and Baxter van Heyst on behalf of the Greek Orthodox Parish of St Spyridon Sydney who had owned the property for more than 50 years.

Mr Hagdelias said the property attracted keen interest, with 150 enquiries throughout the campaign.

“Our strong connections in the industry enabled us to generate a high level of interest in the property and identify the ideal buyer,”he said.

“The property was sold to a local childcare operator looking to expand its brand.”

Mr Li said the majority of interest came from owner occupiers, with some enquiry from developers.

“The property is located in a popular suburb on a large, flat block of land close to amenities with easy access to arterial roads into and out of the city,” he said.

“The property had an existing service approval for childcare which was a huge contributor to the interest.”

Mr van Heyst said there was a strong demand for childcare assets.

“Childcare as an asset class is possibly the most in demand asset in the commercial space at the moment,” he said.

“Vacant existing centres are very desirable for owner operators.”

To request a sales analysis please contact the selling agent Ray White Commercial (SC) agents Samuel Hadgelias, Leslie Li, and Baxter van Heyst, via the below contact details. 

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