Little Lane Early Learning Centre (LLELC) has outmuscled a number of local and international builders to secure an enormous parcel it will occupy in South Melbourne, capturing a growing population, also serving nearby Docklands, Port Melbourne and Southbank.
The group is paying more than $60 million for the 9356 square metre site at 68 Buckhurst, Street, which was listed for sale a couple of months ago.
A permit was offered allowing low-rise buildings on the block to be replaced with a Fender Katsalidis designed apartment village with four towers and 1004 flats. The lower levels of the buildings contained space allocated for retail and commercial use.
LLELC will build what it calls “the world’s best early learning centre in the world’s most livable city”.
A plan, involving a purpose-built complex with an indoor swimming pool and indoor rock climbing wall, is also now on the agenda.
LLELC could seek a development partner to replace the airspace with apartments, it has been speculated.
Savills agents Jesse Radisich, Nick Peden and Benson Zhou brokered the deal with Colliers International’s Bryson Cameron, Trent Hobart and Hamish Burgess.
Mr Burgess said “at nearly a hectare of land and less than one kilometre from the city, this was truly a rare offering” adding the site “is surrounded by every conceivable amenity including Crown Entertainment Complex and an abundance of South Melbourne retail”.
“Melbourne is streaking ahead as the premier destination for lifestyle, employment and tertiary education, and will soon become the go-to [city] for early learning and childcare too,” Mr Burgess said.