A highly sought-after childcare opportunity adjoining the Aston Village Shopping Centre has been transacted by CBRE’s Australian Healthcare and Social Infrastructure team of Sandro Peluso, Marcello Caspani-Muto and Jimmy Tat.

Having originally generated multiple offers to lease the center for the notable private developer and owner of ADCO construction, the process pivoting once the preference to sell was identified. The interest from operators was then strategically leveraged to generate multiple offers to purchase the project from credible from a mixture of credible owner occupiers and investors/developers.

The property was eventually purchased by an established and notable private childcare provider with an existing presence in the catchment.

Sandro Peluso said “The childcare market has continued to go from strength to strength, particularly form a leasing perspective. However, when feasibility aligns this is also translating into purchase active from owner occupiers in the space who want to secure their future pipeline. With rising construction costs reducing the pipeline of future centers and shrinking developers margins, expansion opportunities are becoming more challenging to source and developers are recognizing this, taking things into their own hands.

Marcello Caspani-Muto said “The operator already has a premium offering within the immediate catchment, with a high performing operating center featuring an existing waitlist. The purchase is also strategic for the reasons it keeps additional competition out of the area with the eventual center once construct allowing staffing efficiencies and overflow capacity for the existing operation.”

The property which is formally located at 163 Elevation Boulevard featured a permit for 100 places and was transacted at a sales price of $2,150,000, reflecting a rate per place exceeding $21,500. The site featured an underlying land area of 1,988sqm with a permitted building area of 800sqm.

A number of shops within the adjoining Aston Village retail centre were also traded via auctions in late 2022.

To request a sales analysis please contact the selling agents from CBRE’s Australian Healthcare and Social Infrastructure team of Sandro Peluso, Marcello Caspani-Muto and Jimmy Tat via the below contact details. 

Click here to read article on Retalk Asia:  Life sciences real estate reaches 100 million sq. ft. with major hubs like Shanghai, Beijing, Tokyo, Singapore, and Melbourne; US$18 billion of funds has been raised to invest in life sciences real estate.

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