Activity in the busy childcare sector is stepping up again, as a purpose-built creche facility in north Dublin comes to the market quoting offers in the region of €1.1 million.
Occupied by Giraffe Childcare, the property is located in the large mixed-use development in Northern Cross, Malahide Road, Clongriffin, Dublin 17, and generates annual rental income of €90,000, indicating a yield after costs of some 7.45 per cent.
Brought to market by Kelly Walsh, the property is let on a long-term lease from April 1st, 2019, and comprises 578sq m (6,225sq ft) with an additional external area of 250sq m (2,700sq ft).
Busiest operations
The property is one of the busiest Giraffe operations in Dublin and is set among a high-quality mixed-use development with occupiers including Bank of Ireland, Meadows & Byrne, Aramark, Walls Construction, Mater Private Medical Care. Giraffe is owned by Busy Bees, a UK-based national creche operator with 35 years’ experience in the sector. It acquired all 21 Giraffe Childcare facilities in Ireland back in 2019, increasing the total number of creches it operates across England, Scotland and Wales to 374.
The potential sale of the Clongriffin creche is the latest in a line of similar transactions.
Busy Bees, a UK childcare provider, has just bought Park Academy Childcare, which has a portfolio of eight creches in Dublin and Wicklow, while Tigers Childcare, one of the country’s largest childcare providers, has acquired the Little Fairies Creche and Montessori in Tallaght. In the midst of a funding round, Tigers is also targeting future expansion in Ireland.
