Portfolio of Three Approved Child Care Sites put to Market to Tackle Continued Undersupply16 February 2023
Three high exposure development sites in Ashwood, Chelsea and Mitcham are up for sale each with permit approval for a premium child care facility.
Despite the sites also suiting townhouse development, child care prevailed as the preferred planning outcome on the back of the growing concern of undersupplied child care services in Victoria.
“The demand for child care has risen due to a rapid increase in working parents, yet the supply has not kept pace. This has resulted in long waitlists, high costs, and limited availability of quality child care options for families” stated Savills Director, Julian Heatherich who has been appointed to transact the sites alongside colleague Benson Zhou.
At the 2021 Census there were over 375,000 children aged 0-4 years in the state, although Licensed Daily Childcare Places can cater for less than 40% of this number.
“This lack of supply is troubling given the fact that between the 2016 and 2021 Censuses, the number of families in Victoria with two parents working full time increased by 22% from 265,111 to 323,693” noted Mr Zhou.
465-467 Warrigal Road, Ashwood is a prominent corner site on one of the eastern suburb’s key main roads. This centre will comprise 104 places and has an ideal design without a basement or upper level.
45-47 Embankment Grove, Chelsea offers a corner landholding in a desirable and established beachside location. The permit comprises 122 places in an area especially in need of child care.
Finally, 403-405 Mitcham Road, Mitcham is situated on a main corridor and adjoins a linear reserve. The permit comprises a 98 place centre to be situated a short distance from Mitcham’s activity centre on Whitehorse Road.
Two of the three sites have lease agreements in place to a national Montessori Education provider. This distinct approach to education is based upon independent and self-directed activity where educators act more as a facilitator than an instructor.
“Montessori Centers have become commonplace in the child care industry, providing competition to traditional facilities while unlocking a divergent target market” said Mr. Heatherich
Each of the centers will feature spacious children’s rooms, outdoor play areas, and modern staff amenities to provide a safe and engaging environment for children.