Interstate childcare operator expands in Melbourne
Bright Steps Early Learning has pre-committed to a double storey complex set to replace a dwelling opposite Greensborough station.
The Sydney based group will pay starting annual rent of $395,000 for the centre, 2 Pope Place, with 92 places and 16 car parks.
The only site abutting Poulter Reserve – which the proposed centre will have views over – completion is scheduled next year.
The lettable area will circle 540 sqm.
Elsewhere in Melbourne, Bright Steps trades at, amongst other locations, Altona North, South Kingsville and Williamstown.
As well as centres in its home state, it has Queensland and South Australia bases (story continues below).
Demand exceeding supply: agents
CBRE’s Marcello Caspani-Muto, Sandro Peluso and Jimmy Tat marketed 2 Pope Pl, which will cover the 937 sqm block on Pope Pl – once the extension of Flintoff Street.
“The country’s childcare development pipeline is shrinking at a rapid rate,” Mr Caspani-Muto said.
“Operators with further growth aspirations are aware they need to bid competitively now to secure their pipeline as high quality metropolitan opportunities will be few and far between over coming years,” he added. “This development is in a catchment with a strong immediate demand ratio…we’re expecting there to be a waitlist of parents enrolling their children”.
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