Tiny Beez buys Alfred Road property for $1.675 million.
The operator of a Claremont childcare business has paid $1.675 million to buy the Alfred Road centre it had been leasing.
Colliers International selling agent Tory Packer, who was acting on behalf of the buyer in the off-market transaction, said the owner of Tiny Beez childcare purchased the property at 2 Alfred Road from a private investor.
“The property occupies a site with good visibility on Alfred Road and the tenant was keen to secure the location for their business,” Mr Packer said.
The property settled in November.
Colliers International Executive Investment Services Henry Vu said demand for stand-alone childcare centres and development sites for new centres was strong, particularly in under-serviced suburbs close to the city.
“There has also been strong interest in the conversion of character offices in residential areas to childcare centres as these properties tend to have good exposure and many have been vacated by tenants relocating to CBD offices,” Mr Vu said.