Melbourne

Childcare centres moving into busy retail strips

A childcare centre located in one of Melbourne’s busiest retail strips is poised to hit the Victorian childcare market.

23 May 2018

A childcare centre located in one of Melbourne’s busiest retail strips is poised to hit the Victorian childcare market.

235-239 Murray Road, Preston is a brand new centre with a 15 + 10 + 10-year lease to an established childcare tenant. The 1,410sqm centre is just nine kilometres from the Melbourne CBD and will provide exceptional care and education for up to 130 children. 

The CBRE Victorian Health, Aged & Childcare team featuring Sandro Peluso, Josh Twelftree, Bianca Butterworth and Kinson Wong have listed the property which will be made available to the market via Expressions of Interest commencing at the start of June.

An imposing site with an irreplaceable landholding plus front and rear street frontages, the substantial 1,645sqm land holding is one of the largest blocks in Preston with its Priority Development Zone and General Residential zoning further enhancing investment appeal. The site’s proximity to Preston Train Station and Preston Market is expected to be an additional demand driving factor for what already offers the appealing investment features expected from a childcare listing.   

Kinson Wong said the investment will be hotly contested with significant local and offshore enquiry expected given the sites immediate locality to the CBD and high land values. 

“With an expected increase in population of over 84% by 2041, the area is a hotspot for property investors and even land bankers,” Mr Wong said.

Josh Twelftree added; “This growth will likely see a significant increase in demand for childcare services in Preston. Together with the significant levels of planned development in the area, it is anticipated to enhance the locational demand childcare services.”

Preston is an area with significant growth potential. The precinct is undergoing major transformation, to cater for population Growth within Preston is forecast to increase at an annual rate of 3.19% per annum a significantly greater margin than the Australian average of 1.4%
 
For Australian/international news or global stories, follow us on Twitter: @cbreaustralia

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

Disclaimer:

Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at https://www.cbre.com.