Operator leases high rise office for childcare centre
Child minding group Woodlands Early Learning has leased multiple levels of a Melbourne office, for a centre.
The unusual deal, for part of the ground floor and the two top storeys (levels 12 and 13) at 580 St Kilda Road, next door to the distinctive Yve building, is for an initial 10 years.
Starting rent is $626,895 or $5700 a child (it is licensed for 140 clients).
CBRE’s Sandro Peluso, Jimmy Tat and Marcello Caspani-Muto acted for Guardian Early Learning; their campaign also targeted office users.
The building is one of a handful in the boulevard owned by respected Australian-Greek businessman, billionaire, Nick Andrianakos.
In mid-2020, furniture retailer Cosh Living leased a mid-rise floor and rooftop at 600 Church St, Cremorne, for a showroom.
Change of use
The Woodlands tenancy will include classrooms and a rooftop outdoor area (story continues below).
“In a unique twist, the toddler room was 10-plus levels below the rest of the centre at the ground floor of the building and adjoining the centre’s commercial kitchen,” Mr Peluso said.
“Woodlands Early Learning…will take control of the existing childcare licence from Guardian,” he added.
“Providers really are operating with split strategies at present…it’s clear some are targeting growth corridors and single level operations while others remain confident in their ability to achieve strong occupancy and charge premium rates for inner-city and metropolitan services,” according to the executive.
“This service is a prime example of that…the centre features strong historical occupancy”.
This is only expected to increase as more workers return to offices to work, Mr Peluso said.
“There is also a notable difference in access for a service on St Kilda Road versus the Melbourne CBD centre where drop-off can become more challenging for parents, even with dedicated points of entry,” he added.
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