A highly sought-after, development approved, childcare centre site in Yeronga was sold to a private boutique childcare operator.
The 2275sqm site located at 11-15 Querrin St sold for a price in the early $3 millions.
Jose Rojas from Ray White Commercial QLD introduced the purchaser following an off-market approach.
The childcare centre development site has development approval for 90 places.
Mr. Rojas said there had been strong interest in the property due to the location, only 250m from Yeronga State School and only 7km southwest to Brisbane CBD.
“The proximity to the schools, its position within a strong residential catchment and limited supply of inner-city childcare approved sites made it quite attractive for this particular operator,” he said.
“We see an increase in demand and competition for shovel-ready approved childcare centre sites, due to short supply and the strength of this sector following the pandemic.”
Mr. Rojas said there was a lot of interest in the site both on and off-market, with the buyers paying a premium price to secure it before an on-market campaign.
“They were quite aggressive in their acquisition, due to current market conditions,” he said.
“Given the buyer’s a boutique childcare operator, they were actively searching for a foothold in the Inner South catchment; in their opinion, the site would reward the acquisition price and capital spent on it.”
Metropolitan Markets – Ray White Commercial QLD
0431 245 598
Media advisor – Ray White Group
0447 000 472