Melbourne’s “most Instagrammable” childcare centre for pre-lease
With demand said to be strongest for premium fit-out childcare centres – from operators, guardians and client children – one, in central Moonee Ponds, could be a contender for Melbourne’s “most Instagrammable”, according to the agents appointed to fill it.
The 3500 square metre space over the top two floors of the ex-Australian Taxation Office at 6-22 Gladstone Street, also facing Young, near the Woolworths car park and a block behind the Puckle Street retail strip – is licensed for 131 places.
Also walking distance to the train station, trams and Moonee Ponds Junction, its city view can’t be built out – with properties on the south side of the street not zoned for the same height.
A bespoke, modern and premium fit-out will be carried out for the incoming operator, according to CBRE’s Sandro Peluso, Marcello Caspani-Muto and Jimmy Tat.
Added to the city views, including from an enormous balcony, it could be Melbourne’s most Instagrammable centre, the executive added.
The listing comes five years since a multi-level South Melbourne building, having just been fit out as a childcare centre at a $6.3m cost, sold to an investor on a low 4.2 per cent yield.
Rooftop the rage
The Moonee Ponds offering comes a fortnight since we reported Woodlands Early Learning leased the penthouse floor of 580 St Kilda Rd, to occupy.
“There was a period where many operators wouldn’t consider rooftop centres but this attitude is rapidly shifting as a result of improved operational facilities and reduced land availability in metropolitan locations,” Mr Peluso said.
“For many, operating a two level centre in a dense hub like Moonee Ponds is not different than operating a two level centre that is freestanding in the outer suburbs,” he added (story continues below).
Heart of Moonee Ponds
Mr Caspani-Muto said there is fast becoming a lack of land to accommodate this product in the north west, with new supply in Avondale Heights and Pascoe Vale, each several kilometres from 6 Gladstone St.
“But they have not found their way into the most esteemed suburbs inclusive of Moonee Ponds, Essendon and Strathmore so we expect a good level of interest from providers with local operations in the immediate area and those looking to break into the suburb,” he added.
Moonee Ponds has for more than two decades been considered one of Melbourne’s major activity centres, with several new projects, amongst them, a 10 storey Giancorp project, with a Brunetti’s, and on the former Moonee Ponds Market car park site, several towers, the tallest, 30 levels.
Marshall Investments bought 6 Gladstone St for $126 last year.
It has since carried out a complete refurbishment, rebranded it MPHQ and offered it for lease.
The ATO stayed on for some space. Honda also committed after recently selling its Tullamarine headquarters. The motor group also leased a replacement Melbourne Airport base.
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