Former Genius Early Learning Keilor centre re-leased within two weeks

A modern early learning facility in Keilor, Victoria, formerly operated by G8 Education and Genius Early Learning, has been re-leased within just 14 days of becoming available.

The property, only three years old, entered administration following the collapse of Genius Early Learning. Its quality improvements and the suburb’s strong demand ratio quickly attracted interest from prospective operators.

Permit-approved for 126 places, the centre was leased by CBRE’s Australian Healthcare & Social Infrastructure team.

The short, confidential campaign generated three bids from a mix of local and national providers. The successful tenant, Little Penguins, operates five boutique services across New South Wales and Victoria and plans to use the Keilor site as a strategic step in its Victorian expansion.

The lease commences at $529,200 annually, or $4,200 per licensed place, on a 15-year initial term with further options.

Mr Caspani-Muto said the centre’s appeal lay in its quality build, location and limited local competition.

“There are only a small number of competing services in the catchment, many in substantially older buildings,” he said. “Existing centres continue to attract strong interest from operators because they offer certainty of delivery and allow for efficient business planning.”

Mr Tat noted that the supply pipeline for new centres is declining.

“Operators are very aware of this and will jump at the opportunity to acquire high-quality existing buildings, provided the design meets modern standards,” he said. “Little Penguins identified this site as a perfect launchpad for its Victorian growth.”

Adapted from Property Markets News.