89 Westbury Street

St Kilda East VIC 3183

+ Affinity Education: one of Australia's largest early education providers with 205 + centres nationally.
+ Highly desirable triple net lease structure with the tenant paying 100% of all outgoings including: rates, land tax, insurances, management fees, repairs, maintenance and structural capex.
+ Annual uncapped CPI reviews with ratchet provisions, ensuring future income growth.
+ Long established and strong performing centre licensed for 60 LDC places.
+ Significant 1,287sqm* inner city site with high underlying land value and dual street access.
+ Strategically positioned within a prestigious education precinct with 13 private schools within a 3km radius, servicing a combined 9,200+ full-time students.**
+ Immediate access via both Inkerman and Hotham streets to major commuter routes including the Nepean Highway and Dandenong Road servicing 129,000+ vehicles daily.
+ Conveniently located less than 800 metres* from multiple national retailers including: ALDI, Woolworths, Coles, Priceline Pharmacy and Grill'd.
+ St Kilda East: tightly held family-friendly bayside suburb situated only 6 kilometres* from Melbourne CBD and within close proximity to St Kilda Beach, Albert Park Lake and Elwood Beach.
+ City of Port Phillip: a significant metropolitan Melbourne LGA with a current population of 113,361 residents that is forecast to grow 47.6% to 167,363 by 2041.**
+ Child Care/Early Education is an essential service with both the Federal and State Governments allocating unprecedented funding to the sector. In the 2022-2023 period, the Federal Government is projected to contribute $10.7 billion in funding plus an additional $4.7 billion to deliver more affordable child care, which includes increasing the Child Care Subsidy (CCS) rates from July 2023. This reform aims to enhance the affordability of early education and care for approximately 96% of families (1.2 million) with a child in care.***
+ Net Income: $189,123 pa* + GST

For Sale