Heritage home set for childcare centre conversion
A heritage protected red brick home described as one of the best examples of a Queen Anne villa in Melbourne’s leafy Hawthorn East, is a step closer to being repurposed as a childcare centre.
Vantage Architecture’s John Kachami is behind the proposal affecting 1093 Burke Road, at the Canterbury border.
Held since 1991, the executive pushed forward a change of use for the 1571 square metre Neighbourhood Residential 3 zoned site, with the local council, late last year.
The move would see the four bedroom c1900 dwelling undergo a major extension.
The gardens would also be restored while a car park is expected to be developed.
This month Mr Kachami secured a tenant.
Based on the starting annual rent ($442,000), the asset should be worth about $9m upon completion next year.
The deal comes a fortnight since we reported another Hawthorn East childcare centre hit the rental market.
Nearing completion at 760 Toorak Rd, that property, licensed for 96, was pre-committed to Nino Early Learning, which backed out of the deal following construction delays.
CBRE’s Sandro Peluso, Marcello Caspani-Muto and Jimmy Tat are seeking the replacement occupier, with yearly rent expected to exceed $500,000 (story continues below).
Local supply to rise
Opposite Camberwell Girls Grammar, three blocks from the Camberwell border, the proposed Burke Rd centre is about 10 kilometres east of Melbourne’s CBD.
“With demand and utilisation rates increasing throughout the childcare market, our team has noted a continued rise in the cost per place the tenants are willing to pay to secure new locations,” JLL’s Mark Stafford, who brokered the lease deal, said.
Places in the exclusive Stonnington area circle nearly $4000 today, up from $2500 not long ago, he added.
“The future centre is ideally positioned close to Camberwell Girl’s Grammar…Camberwell Grammar, Canterbury Girl’s Secondary College and Carey Baptist Grammar,” according to the executive.
Several “top line operators” looked in, he said.
“As government support continues to increase in the childcare sector, we are continuing to see an increase in two working parent families across Australia,” the agent added, “placing increasing pressure on existing early childhood education networks”.
Mr Kamachi said the “position, size of the landholding and ease of access had all the hallmarks of a potential high-end and bespoke childcare facility” but “finding the right operator for the project was critical in turning the idea into a reality”.
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