CBRE’s Australian Healthcare & Social Infrastructure team has leased their sixth childcare ccentre this year. 466-468 Sayers Road, Tarneit is prominently located in the strong growth of Melbourne’s Western Corridor.

In a new found trend across the space, the centre which was leased feature existing improvements with the asset recently vacated by ASX listed G8 education.

Leased by Jimmy Tat, Sandro Peluso, and Marcello Caspani-Muto, the property featured a prominent 2,919 sqm site.

While the centre was vacated the building still promises a modern fit-out with substantial outdoor play space and only minor refurbishment necessary. The property feature a permit and license for 127 children.

Jimmy Tat said “The story of the year really is the importance of existing vacant centres or repurposed buildings. These provide both speed to market and certainty for tenants looking to grow their scale in a fast and more cost effective manor.

From a landlord perspective, these building can often allow for feasible conversions or renovation where new builds are not stacking up based on current market rentals.”

Sandro Peluso added “No all centres need to be purpose built and brand new. There are plenty of operators who have operational success in older builders at a lower cost base for parents while providing exception service.

Some operators have a mixture of modern and older services within the portfolio while others focus purely on their service and less on their buildings to develop a strong reputation in market.”

The subject property was leased for an annual rental of $406,400 per year on a new 15 year term.

More CBRE Readings 

Brand-new childcare offering Croydon - CBRE

CBRE to launch charming trophy childcare centre for lease in Melbourne’s Inner North

Brighton Childcare Centre sold by CBRE for $17.5m adds to Australia’s list of largest ever childcare transactions

CBRE Release 2024 Childcare Report – What asset class should investor consider to invest in?

CBRE lease city rooftop childcare centre along the famed St Kilda Road corridor