Maples snatches blue ribbon Melbourne childcare centre from rival
Maples Early Learning has leased a Hawthorn East childcare centre after a commitment to a rival fell through.
Starting net annual rent for the 96 place facility at 760 Toorak Road, is $504,000 or $5250 for child.
CBRE Healthcare and Social Infrastructure’s Sandro Peluso, Marcello Caspani-Muto and Jimmy Tat were the agents.
Maples, which turns six this year, is behind centres at Kilmore, Epping and Mernda.
Second time luckier
Due to open June, the three level Hawthorn East building will contain 784 square metre over three floors and a basement car park with 21 bays.
There will also be a 700 sqm outdoor play space.
The property hit the market last July after a pre-lease deal to Nino Early Learning in 2021 fell through.
In that agreement, also struck by CBRE, starting annual rent was a little lower – $5200 per place.
“Building delays resulted in a sunset expiry of the previous lease,” Mr Caspani-Muto said (story continues below).
“A new builder was appointed to the project in the third quarter of 2024,” he added.
“This outcome shows how the bar continues to lift in terms of average market rentals across inner eastern Melbourne with rates between $5000-$5500 per place for a childcare centre now common,” according to the executive.
“There are a number of highly attractive fundamentals and points of difference in this property that we expect will drive operational success.
“The two major features…are the standout design and high-end finishes.
“The centre also benefits from its excellent location near two major intersections [Toorak and Tooronga roads], so if you live locally, this service will be front of mind when considering where to send your kids”.
Mr Peluso added the complex is opposite the Tooronga Village shopping centre, seven kilometres from the CBD.
“While it can result in short-term stress for a developer, every childcare centre we have leased, either under construction or near completion, over the past three years, has resulted in a superior outcome for the landlord or developer,” he said.
Subscribe to our newsletter at the bottom of this page.
