Sydney childcare centre operator leases 10th facility

The St Albans facility will occupy 1643 square metres.

Sydney based childcare centre operator Whiz Kids has committed to its 10th facility.

The 113 place complex, 64 Blendon Avenue, St Albans (artist’s impression, top), in Melbourne’s west, will now be constructed.

On the south east corner of Biggs Street, doors should open mid-next year.

Ansel Commercial is the landlord.

The deal comes three years since a former owner pre-committed another operator to the facility – but then never constructed it.

Interestingly that rent, $367,000 per annum, was c20 per cent less than achieved this time around.

Whiz Kids doubles down in St Albans

Th Blendon Ave facility will complement another Whiz Kids complex in St Albans, on Errington Road.

On 1643 square metres, it will contain 24 car parks.

“The incoming tenant…has a highly successful centre within the catchment and outbid two other providers to secure the new service which will allow them to cater to their existing waitlist,” CBRE’s Marcello Caspani-Muto, who brokered the deal with Sandro Peluso and Jimmy Tat, said (story continues below).

“Too many operators and developers get caught up on the immediate demand ratio within a catchment,” he added.

“However, in many cases experienced operators look beyond this with a focus on the quality, age and

size of existing providers within the catchment,” according to the executive.

“Some of the most successful providers we know are located within catchments that a desktop assessment may not necessarily reflect perfectly on.

“St Albans is a prime example where many providers thought a ratio below 2:1 would cause challenges, yet Whiz Kidz have a sizeable service within five minutes of the property that is already at capacity and will likely achieve the same outcome here”.

The occupier trades in Victoria and New South Wales.

St Albans is about 20 kilometres from Melbourne’s CBD.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.