Real Estate

Long term tenant adds to the appeal of this Kenthurst property

Written by The ReReport

A local investor has paid $2.6m for a unique listing at Kenthurst comprising of a residential home and a separate kindergarten.

The 2704 sqm property, which has a street address of 21 Sandpiper Place, is split in two allowing the business and home to be used independently.

The childcare centre is located just across from Kenthurst Village, while the four bedroom home is positioned on the other side of the block in a quiet cul-de-sac.

Agent Steven Ford from LJ Hooker Dural said there was strong investor interest in the property because of its additional income. It also attracted a flood of enquiries from buyers looking to also run the kindergarten. The premises, however, are currently leased to an established operator until 2026 with options to extend it for a further additional 20 years.

“There were a lot of investors looking at it because of the opportunity to have a solid long term tenant,” Mr Ford said.

“It was interesting that there were a lot of people wanting to buy and run their own business from there but that is not what we were selling.”

The four bedroom single level home is located on 900 sqm block and features an open planned family and meals area. The master bedroom has a walk-in wardrobe and en-suite.

The business premises comprises of three separate classrooms with a nappy change area, a staffroom, administration office and storage. It also has a kitchen, laundry and covered outdoor play areas. The Kenthurst Early Education Centre will continue to operate as normal from the site. According to CoreLogic RPData, the property last sold for $1m in December 2006.

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