168 Garden Street, North Narrabeen

Upstate Commercial as exclusive sales agents are pleased to present, 168 Garden Street, North Narrabeen – 64 place childcare centre with 16 basement car spaces.

This brand new purpose-built childcare centre based in North Narrabeen on Sydney’s Northern Beaches. The property sits on a large 1,126sqm parcel of land with a 776sqm* total play area.

* Brand new 64-place childcare centre
* 10-year lease with 2 x 10-year options until August 2049 with 3.25% annual increases
* Newly completed building with significant depreciation benefits
* New 10-year lease with options to August 2049
* Strong performing family suburb and region with a high demand for childcare
* Defensive asset class with significant Government support
* Estimated outgoings – $8,767 per annum

Lease Details:
Tenant – Early Learning Childcare Centre
Start Date – 02/09/19
Expiry – 01/09/29
Options – 10 + 10
Reviews – 3.25%
Gross Rent – $283,937.50 + $2,972 recoverable outgoings = $286,909.50
Net Income – $278,142.50

Surrounded by national parks, pristine beaches, peaceful lagoons and an array of amenities; North Narrabeen is a highly sought-after neighbourhood with a strong family culture.

North Narrabeen is situated within Sydney’s Northern Beaches approximately 22km* north of the city CBD. The property is perfectly positioned along a quiet tree-lined street and within close proximity to several iconic beaches, parks, Narrabeen Lagoon, schools and an array of amenity including Warriewood Square. Furthermore, the Warriewood B-Line Rapid Bus Terminal is positioned just 1.2km* from the property, allowing faster commutes between the Northern Beaches suburbs and Sydney CBD.

Call Oliver Rosati on 0428 877 888 or Vincent West on 0403 444 000 today for your inspection.

**All prices are per annum and quoted areas/measurements are approximations only**