Assembly Funds Management, with the support of Harrington Property Funds Management, is acquiring six Sydney early childhood education and care centres for around A$43 million (£23.7 million), The Sector has reported.

Childcare provider Young Academics will operate the centres under a 15-year lease. Founded in 2009, Young Academics has 16 services in Sydney.

Assembly Fund Management head of transactions Tim Muerer said: “Childcare has proven to be a highly resilient asset class in the face of economic turbulence and offers good value in a low-yield macro environment. By comparison, the direction of other asset classes such as traditional retail, commercial and leisure is less certain, while industrial and logistics are heavily sought after and comparatively expensive.”

The agent brokering the deal, Peter Fanous from Peritus Childcare Sales, said his company has experienced “significant strong demand from major global private equity firms and family offices based in Asia who are attracted to the fundamentals which support the asset class.”

Date published: 1 April 2021

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