Economics
Operator demand for ECEC centres in Victoria remains buoyant despite COVID-19
Jason Roberts
Sep 29, 2020
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Demand from early childhood education and care providers looking for centres to lease across Victoria remains buoyant despite the recent COVID-19 lockdown according to the ECEC focused real estate and business broker, Burgess Rawson.
The company confirmed the successful negotiation of two early learning centre leases in the growth areas of Tarneit and Berwick in Victoria to different operators, one of which was securing their second site in the same suburb, the 128 place centre in Tarneit.
Commenting Burgess Rawson leasing agent Sam Fogarty said “For one operator to secure a second property in the Tarneit area shows the strength of the market. The City of Wyndham experienced the largest and fastest population growth in Victoria in the past two years. Consequently, childcare services are in demand.”
The Berwick property has been leased to provider Oxanda Early Learning and will see the new 110 place site join the Group’s existing network of 15 centres once completed.
“It’s no surprise that a provider of Oxanda’s quality would secure this soon-to-be built property,” said Mr Fogarty, “More than 25 per cent of the City of Casey’s population are young families and this is only expected to grow.”
Both leases were 15 years in duration.
“We continue to see healthy demand for leasing opportunities and are in the fortunate position of having a range of opportunities available to meet this demand, including several under offer. The sector remains strong and we are very excited about its prospects going forward.”
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