Childcare centre operator Building Futures has spent $2.2 million on two adjoining allotments in the Brisbane bayside suburb of Wynnum.
The 1918 square metre holding at 238 and 242 Bay Terrace includes a weatherboard church hall and four bedroom home.
These improvements could easily be re purposed for childcare use, Savills director of commercial sales, Robert Dunne, said.
With colleague Tim Packman, the broker closed an expressions of interest campaign for the property, about 25 kilometres east of the city centre.
Building Futures, stablished in 1994 by John and Gloria McKinnon and now led by their son Derek and daughter Vicki, services South East Queensland via three locations.
Joint chief executive officer Vicki McKinnon said the company is “keeping an eye out” for sites which could allow it to expand further in the Queensland capital.
“There is an oversupply in the child care sector at present, however in the Wynnum/Manly area, that is not the case,” Ms McKinnon said.
“Wynnum piqued our interest, as we felt that it was a good location and suitable for our development processes. I particularly loved the view from the Manse and the architecture of the church hall”.
Building Futures is planning to open a 120-place centre on the site in 2022.