Peritus Childcare Sales; as exclusive leasing and marketing agents is pleased to present for your consideration 355 Ernest Street, Neutral Bay. A best-in-class, brand-new 102-place early learning centre which will be delivered to a successful tenant on a full turn-key basis.

Rarely is a large and dominant centre with the potential to generate a pro forma net profit (EBITDA) of approximately $1,400,000 - $2,500,000 (80%-100%), offered for lease with a sustainable asking rental range.

Expression of Interest Closing 5pm Friday 1 September 2023

• Brand new 102-place centre located adjacent to the Big Bear Shopping Centre in Neutral Bay, Sydney with two- way traffic access provided from Ernest Street offering exceptional ease of access and exposure
• DA approval granted and construction completion estimated in Q4 2024
• Likely amended Development Approval for 122-132 places (STCA)
• Current average daily fees within the defined catchment area are $203 (0-2), $194 (2-3) and $178 (3-5)
• Likely daily fees on completion are $220 (0-2), $210 (2-3) and $195 (3-5)
• 13 centres out of the total of x18 centres within the defined catchment area have no vacancy available on any days
• Very Sustainable asking base rent of $6,000 - $8,000 per place reflecting a rental occupancy cost ratio of approximately 11%-15
• 12-year lease term-certain period with an additional 5+5+5 years of further options extending the secured lease term to 27 years
• EBITDA (net profit) potential of 1,450,000 assuming a forecast utilisation of 80%
• EBITDA (net profit) potential of $1,980,000 assuming a forecast utilisation of 90%
• EBITDA (net profit) potential of $2,500,000 assuming a forecast utilisation of 100%
• 2,865 0-5 year old children reside within the defined catchment area offering significant market depth

"A very high quality, strategically located centre with significant upside potential, a unique opportunity which wont be repeated"