Developer lists new high-profile childcare centre
Childcare investor and developer Mark Pernell has listed a new centre in Melbourne’s north.
The Eden Academy backed asset at 355 High Street, at the south-west corner of Hurtle, is in Thomastown’s retail precinct, opposite a Woolworths.
The site spans 1792 square metres with 86 metres road frontage.
The two storey improvement contains 1949 sqm.
A play area is elevated over part of a car park.
Including two at-grade spaces there are 28 bays.
There are also end-of-trip facilities.
CBRE’s Jimmy Tat, Sandro Peluso and Marcello Caspani-Muto are the agents closing an expression of interest campaign on August 20.
Mr Pernell via MLP Group, also recently sold Melbourne childcare centres at Cranbourne East and Werribee.
Eden Thomastown
The Thomastown complex, configured with eight activity rooms, is licenced for 124 children (continues below).
Eden, which runs 60 learning centres nationally, is on a lease expiring 2040 with options to 2065.
It pays annual rent of $511,000.
“355 High St represents an opportunity to secure a brand-new childcare centre investment leased to one of Australia’s most recognised operators,” Mr Tat said.
“Beyond the quality of the asset and tenant covenant, the investment is underpinned by compelling childcare market fundamentals,” he added.
“Thomastown continues to experience strong population growth and family formation, while the local catchment remains undersupplied for childcare places, creating favourable operating conditions for providers and long-term demand support for investors,” according to the executive.
Mr Peluso said, “the centre is surrounded by a range of key community and lifestyle amenities including Woolworths Shopping Centre, Thomastown and Lalor train stations, The Northern Hospital, multiple primary and secondary schools, recreation reserves and major employment precincts”.
“These amenities contribute to the centre’s convenience and accessibility for families, reinforcing its strong long-term operating position,” he added.
Thomastown is about 17 kilometres from town.
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