"An owner operator sought to secure the opportunity to build in one of Sydney’s best education catchments."
The Upper North Shore suburb of Thornleigh is an affluent locality that attracts families by the dozen, all the whilst costing less than some of its more expensive neighbouring suburbs like Normanhurst, Pennant Hills and Westleigh. With notably higher rates of education than both the state and national averages, it’s no surprise that many pick the leafy streets of Thornleigh to raise their children.
The commercial property market in the area is starting to recognise this trend, as evidenced by Colliers’ most recent deal. A competitive Expressions of Interest campaign for an undeveloped site in the heart of Thornleigh has returned a solid sum for a private vendor. The deal was brokered by Colliers agents Jordan McConnell and Paul McGlynn, with the landholding being sold on the basis that the property possesses development approval for a major childcare centre development.
The DA is for a 71-place centre built atop the prominent 1,402 sqm site at 35D Sefton Road. With the early learning sector experiencing such impressive growth recently, an owner operator sought to secure the opportunity to build in one of Sydney’s best education catchments, settling on a figure of $3.805 million. That value represents $53,592 paid per place.
35D Sefton Road, Thornleigh NSW 2120
This asset class has seen an influx of interest over recent years, as the flight-to-quality for the commercial property market has led to the recognition of early learning centres as particularly secure investments. Their status as an essential service gives them clearly delineated purpose, even in uncertain times. Just recently, an Affinity Education Group centre in Blue Haven achieved a 5.11% yield after selling for $4.075 million at auction; that’s just a taste for an industry that is proving profitable for developers and investors alike.
Education standards in Thornleigh are such that preschool attendance amongst residents is high, and the property is approximately 1.6 kilometres away from the local train station. As such, the site is in a sensational catchment, in proximity to transport facilities, and has approval for a state-of-the-art early learning facility; it’s clear to see why the buyer has leapt at the opportunity 35D Sefton Road offers.
View the listing for this property on DevelopmentReady here.
