New childcare centre in Craigieburn leased by CBRE

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Nov 15, 2024

New childcare centre in Craigieburn leased by CBRE

The site of a former restaurant is making way for a new childcare at 254 Craigieburn Road Craigieburn leased to Village Early Education negotiated by CBRE’s team of Jimmy Tat, Sandro Peluso and Marcello Caspani-Muto.

CBRE

254 Craigieburn Road Craigieburn leased by CBRE

The site of a former restaurant is making way for a new childcare centre after Village Early Education secured a lease at the Craigieburn property as part of the company’s plans to expand from regional Victoria into Melbourne.

The property was leased by CBRE’s Australian Healthcare and Social Infrastructure team of Jimmy Tat, Sandro Peluso and Marcello Caspani-Muto who secured a 15-year agreement, with options, and a rental price of $529,200 pa.

Purchased by childcare developer Heed Property Group in August 2024, the site at 254 Craigieburn Road is a land parcel spanning 1,736sqm with an approved planning permit for development into a 108-place childcare centre.

It is expected the new childcare centre will be open in 2026.

Mr Tat said the team was seeing on-going demand in the market for well-located childcare centres.

“Village Early Education, which has a prominent presence in Victoria's regional north, snapped up this lease opportunity just seven days after it was brought to market. Childcare centres located in regional areas and in outer metropolitan suburbs are in high demand for both investors and tenants. With flexible work and working from home arrangements in place, many young families are making a lifestyle choice to live outside of metro areas and childcare operators are responding to that surge in demand,” he said.

Mr Peluso added, “Given most outer Melbourne suburbs are limited still in terms of population density, a central location is key to a childcare centre’s growth and ability to maintain a business. Craigieburn is currently experiencing an influx of young families looking for affordable housing and both Heed Property Group and Village Early Education have been quick to act on this opportunity to provide a much needed service for the growing community.”