National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Joel Robinson

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 52-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 52-storey tower, which has just shy of 250 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Childcare

<html><body>
A local Asian investor has purchased a 1,106 sqm strata space let to an operating childcare at 1 Network Place, North Ryde NSW from international developer Risland.
It was purchased for $4,650,000.
The property is currently occupied by Kids Planet Childcare under a new 10 + 10 + 10 year lease. The yield achieved was 6.50%.
The deal was negotiated by Nick Lower, Selin Ince &amp; Oliver Ridley of Savills Australia who said despite the perceived concern for the Childcare industry over the past six months, this transaction is a great indicator of the strong investor appetite currently seen in the market for well-located assets with secure income streams.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Savills sell North Ryde childcare centre to local Asian investor

<html><body>
The Agosta family has divested its Footscray Nino Early Learning Adventures Centre for $11.5 million, a move representing Australia’s first childcare centre sale to top $10 million this year. 
Located at <a href="https://www.commercialrealestate.com.au/property/282-288-geelong-road-west-footscray-vic-3012-2016223248" target="_blank">282-288 Geelong Road</a>, the multi-level state of the art facility is the newest centre under the Nino Early Learning Adventures brand, having been completed in the past month. The property comprises a building area of 2,228 sqm and includes basement car parking for 25 vehicles.
CBRE’s Australian Healthcare &amp; Social Infrastructure team negotiated the sale on behalf the Agosta family via an Expressions of Interest campaign. 
The Geelong Road property is the eleventh Nino Early Learning Adventures centre sold by CBRE over the past three years, with these sales amassing a total transactional value of more than $150 million.  
CBRE’s Josh Twelftree said the sale was the second major childcare investment transacted in 2020 across Australia, with the first having been transacted by the team only two weeks ago in Oakleigh East, Victoria, for $8.08 million with a 5.4 per cent yield. 
“These results are the catalyst for buyers flocking to the sector during these uncertain times, with childcare – an essential service investment – continuing to transact,” Mr Twelftree said.
“Investors have been focusing, and will continue to focus, on properties with sound fundamentals, with the market experiencing a flight to quality where well-located assets with reliable income streams and long leases are keenly sought.”
“Childcare investments with strong underlying land value are on the top of the investors wish list, with higher cost of entry into these areas offering confidence competitors are less likely to open a centre in close vicinity,” 
CBRE’s Jimmy Tat said growing investor interest in childcare centres was being driven by their relative stability as an asset class. 
“When the commercial market was at its weakest earlier this year, investors shifted their focus to stable investment opportunities – such as childcare centres – that were providing essential services and the Federal Government’s support of childcare services further reinforced this,” Mr Tat said.
“Investors typically rate tenancy profile as the top priority after location – primarily to ensure the investment provides a strong income guarantee.
“Nino Early Learning Adventures is a well-known reputable operator with a foothold in sought after investment locations. This is underpinning greater demand and interest in their assets – as evidenced by recent transaction activity.”
 CBRE is the premium childcare sales specialists, having handled all but one of the nine sales over $8,000,000 across Australia in the past 24 months (89 per cent market share). 
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td colspan="5" valign="top" width="558">
Recent Nino Child Care Sales Results - CBRE
</td>
</tr>
<tr>
<td valign="top" width="227">
Address
</td>
<td valign="top" width="95">
Sale Price
</td>
<td valign="top" width="85">
Rental p.a
</td>
<td valign="top" width="94">
Buyer Nat.
</td>
<td valign="top" width="57">
Yield
</td>
</tr>
<tr>
<td valign="top" width="227">
103-107 Koonung Rd, Blackburn North
</td>
<td valign="top" width="95">
$9,280,000
</td>
<td valign="top" width="85">
$498,000
</td>
<td valign="top" width="94">
International
</td>
<td valign="top" width="57">
5.36%
</td>
</tr>
<tr>
<td valign="top" width="227">
356-358 Warrigal Rd, Ashburton
</td>
<td valign="top" width="95">
$10,600,000
</td>
<td valign="top" width="85">
$603,000
</td>
<td valign="top" width="94">
International
</td>
<td valign="top" width="57">
5.68%
</td>
</tr>
<tr>
<td valign="top" width="227">
11-15 Chadstone Rd, Malvern East
</td>
<td valign="top" width="95">
$16,900,000
</td>
<td valign="top" width="85">
$711,000
</td>
<td valign="top" width="94">
International
</td>
<td valign="top" width="57">
4.20%
</td>
</tr>
<tr>
<td valign="top" width="227">
31 Nepean Hwy, Elsternwick
</td>
<td valign="top" width="95">
$11,300,000
</td>
<td valign="top" width="85">
$675,000
</td>
<td valign="top" width="94">
International
</td>
<td valign="top" width="57">
5.97%
</td>
</tr>
<tr>
<td valign="top" width="227">
282-288 Geelong Rd, Footscray
</td>
<td valign="top" width="95">
$11,500,000
</td>
<td valign="top" width="85">
$675,000
</td>
<td valign="top" width="94">
Domestic
</td>
<td valign="top" width="57">
5.80%
</td>
</tr>
<tr>
<td valign="top" width="227">
60 Florey Ave, Point Cook
</td>
<td valign="top" width="95">
$10,000,000
</td>
<td valign="top" width="85">
$511,000
</td>
<td valign="top" width="94">
Domestic
</td>
<td valign="top" width="57">
5.11%
</td>
</tr>
<tr>
<td valign="top" width="227">
519 Melbourne Rd, Newport
</td>
<td valign="top" width="95">
$8,100,000
</td>
<td valign="top" width="85">
$520,000
</td>
<td valign="top" width="94">
International
</td>
<td valign="top" width="57">
6.40%
</td>
</tr>
<tr>
<td valign="top" width="227">
1-7 Reserve Road, Melton
</td>
<td valign="top" width="95">
$7,000,000
</td>
<td valign="top" width="85">
$392,000
</td>
<td valign="top" width="94">
Domestic
</td>
<td valign="top" width="57">
5.59%
</td>
</tr>
<tr>
<td valign="top" width="227">
459 Brookfield Blvd, Mickleham
</td>
<td valign="top" width="95">
$6,350,000
</td>
<td valign="top" width="85">
$420,000
</td>
<td valign="top" width="94">
Domestic
</td>
<td valign="top" width="57">
6.60%
</td>
</tr>
<tr>
<td valign="top" width="227">
222 Plenty Rd, Bundoora
</td>
<td valign="top" width="95">
$8,900,000
</td>
<td valign="top" width="85">
$582,000
</td>
<td valign="top" width="94">
International
</td>
<td valign="top" width="57">
6.50%
</td>
</tr>
<tr>
<td valign="top" width="227">
365 Bell Street, Preston
</td>
<td valign="top" width="95">
$11,000,000
</td>
<td valign="top" width="85">
$488,000
</td>
<td valign="top" width="94">
Domestic
</td>
<td valign="top" width="57">
4.40%
</td>
</tr>
<tr>
<td valign="top" width="227">
International 
Domestic
</td>
<td valign="top" width="95">
6 groups
5 groups
</td>
<td valign="top" width="85">
55%
45%
</td>
<td valign="top" width="94">
Avg Yield
Avg Yield
</td>
<td valign="top" width="57">
5.68%
5.50%
</td>
</tr>
</tbody></table>
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2020's largest public childcare facility sale in Australia

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A local investor has purchased a childcare centre in Mount Helen in Victoria from a local private for $4,275,000.
Located at 1848 Geelong Road, the centre is currently occupied by tenant Goodstart Early Learning. The yield achieved was 6.40%.
The 120 place child care centre provides fixed annual rental growth of 5% and is situated on a 3,187 sqm landholding with dual frontages. The centre is ideally situated opposite Federation University, IBM and other major organisations within Mount Helen
The deal was negotiated by Mark Stafford, Julian Heatherich and Benson Zhou from Savills Australia.
“Through our extensive database of highly qualified and motivated buyers, Savills was able to implement a strategic and targeted off-market database campaign, and ultimately achieve a premium result for our client’ said Mr Stafford.
Mr Stafford added that “the sale price highlights the ongoing demand we are experiencing for income generating assets, with high quality tenants throughout Victoria”.
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Mount Helen childcare centre sold to local investor

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EXPERT OBSERVATION
An Australian family on the average wage typically spends close to A$6,000 out of pocket per year on child care, a new analysis from the Mitchell Institute shows. This is more than the average cost of sending a child to a private primary school.
Unlike the school sector, families don’t have the option to choose a low cost publicly delivered childcare service.
Childcare costs in Australia are among the <a href="https://data.oecd.org/benwage/net-childcare-costs.htm" target="_blank">highest in the OECD</a>, eating up <a href="https://womensagenda.com.au/latest/childcare-costs-are-an-increasing-stress-for-parents-nows-the-time-for-good-policy-making/" target="_blank">around 27%</a> of families’ incomes. Many families are being forced to <a href="https://theconversation.com/not-all-australian-parents-can-access-quality-childcare-and-preschool-they-cant-just-shop-around-130369" target="_blank">choose affordability over quality</a>.
But research shows quality preschool can deliver <a href="https://www.thefrontproject.org.au/images/downloads/Cost-benefit%20analysis_brochure.pdf" target="_blank">$2 of returns to the economy for every $1 invested</a>. Children who receive quality early childhood education and care are also up to <a href="http://www.mitchellinstitute.org.au/wp-content/uploads/2016/10/Two-Years-are-Better-than-One.pdf" target="_blank">eight months ahead</a> in learning, with the benefit still evident in adolescence.
If quality early learning delivers public benefits for the country as well as private benefits for families, then there’s a strong case for Australian governments to carry a greater share of the cost.
How much are we paying?
Our analysis shows government spending on early childhood education and care has <a href="http://www.mitchellinstitute.org.au/reports/australian-investment-in-education-early-learning/" target="_blank">escalated over the past ten years by around 140%</a>. This means <a href="https://theconversation.com/both-major-parties-are-finally-talking-about-the-importance-of-preschool-heres-why-it-matters-114974" target="_blank">both sides of politics</a> are recognising early learning is a worthwhile investment. But Australia’s public investment is still <a href="http://www.earlychildhoodaustralia.org.au/our-work/submissions-statements/state-early-learning-australia-report-2019/" target="_blank">below the OECD average</a> of <a href="https://read.oecd-ilibrary.org/education/education-at-a-glance-2019_f8d7880d-en#page180" target="_blank">0.8% of GDP</a>.
Over the past ten years, families’ investment in early childhood services has grown even faster, by <a href="http://www.mitchellinstitute.org.au/reports/australian-investment-in-education-early-learning/" target="_blank">about 150%</a>.
Governments contribute a far lower share for early learning than what they contribute to schools. A two-parent, one-child Australian family on an average income of A$85,000 will typically spend around <a href="http://www.mitchellinstitute.org.au/reports/australian-investment-in-education-early-learning/" target="_blank">A$6,000 a year on childcare fees</a>, with the government contributing about the same amount.
If that child then goes to a public primary school, the government contributes <a href="http://www.mitchellinstitute.org.au/reports/australian-investment-in-education-early-learning/" target="_blank">close to A$12,000</a>, with minimal costs imposed on the family. Even a private primary school would typically cost the family less than they spend on child care, thanks to <a href="http://www.mitchellinstitute.org.au/reports/australian-investment-in-education-early-learning/" target="_blank">almost A$10,000</a> per child in government funding.
The early years of life are the <a href="https://www.rch.org.au/ccch/first-thousand-days/" target="_blank">most critical period for brain development</a>. Yet Australian governments are under-investing in early learning, preferring to spend millions remediating gaps once children reach the government-funded school system.
Investing in parental workforce participation
<a href="http://www.mitchellinstitute.org.au/reports/australian-investment-in-education-early-learning/" target="_blank">About half</a> of the increase in Australia’s investment in early childhood services can be explained by the increase in children attending them. Since the early 1990s, the number of children in childcare <a href="https://aifs.gov.au/sites/default/files/publication-documents/1907_cce_early_monitoring_report_citation.pdf" target="_blank">has increased five-fold</a>. <a href="http://www.mitchellinstitute.org.au/reports/australian-investment-in-education-early-learning/" target="_blank">Our analysis</a> shows since 2008, participation in childcare has increased by around 80%.
Changing family structures have fuelled this rise in demand. In the 1980s, <a href="https://www.abs.gov.au/ausstats/abs@.nsf/mf/6224.0.55.001" target="_blank">most two-parent families</a> had only one adult in the paid workforce. Now, <a href="https://www.abs.gov.au/ausstats/abs@.nsf/mf/6224.0.55.001" target="_blank">more than one in five</a> Australian families with young children have both adults in full-time work.
It’s not feasible to <a href="https://www.childcarecanada.org/sites/default/files/Chap%203.pdf" target="_blank">say this is a private choice</a>, and that the costs of childcare should therefore be borne by the family. For many Australian families, costs of living can only be met by both parents working, and accessing childcare as cheaply as possible.
The impact of childcare costs is greatest for Australia’s most vulnerable children and families. Low-income families are likely to spend a <a href="https://natsem.canberra.edu.au/publications/?publication=ampnatsem-income-and-wealth-report-issue-35-childcare-affordability-in-australia" target="_blank">much bigger proportion</a> of their discretionary income on childcare than high-income families – meaning less is leftover for other family essentials.
Other families combine care for children with part-time work. Australia has the <a href="https://data.oecd.org/emp/part-time-employment-rate.htm" target="_blank">fourth-highest rate of part-time work</a> in the OECD, and <a href="https://www.propertyobserver.com.au/https://www.rba.gov.au/publications/bulletin/2017/sep/3" target="_blank">numbers of part-time workers are growing</a>.
The Australian government recognises that helping families balance work and family life is a worthwhile investment. The childcare subsidy is designed to make it easier for families to work, <a href="https://aifs.gov.au/publications/child-care-package-evaluation-early-monitoring-report" target="_blank">especially working parents</a> on lower incomes.
One problem with subsidies to working families is that <a href="https://www.education.gov.au/child-care-subsidy-activity-test" target="_blank">children miss out if either parent is unemployed</a>. These children stand to gain most from quality early childhood services, which <a href="https://www.aihw.gov.au/getmedia/321201fc-ca0c-4c20-9582-7c3dc5c9d1b9/19438.pdf.aspx?inline=true" target="_blank">deliver greatest benefits</a> for children from lower-income homes.
More money to families also enables childcare providers to charge more. Education minister Dan Tehan has acknowledged the benefits of the 2018 change to the <a href="http://thespoke.earlychildhoodaustralia.org.au/whats-story-child-care-costs/" target="_blank">childcare subsidy on costs for families</a> have been <a href="https://www.smh.com.au/politics/federal/childcare-package-all-but-gone-18-months-after-introduction-20200131-p53wlr" target="_blank">swallowed up by fee increases</a>. This suggests Australia needs to invest in early learning more wisely.
Investing in children
A smarter investment in early childhood education and care focuses on the benefits for children’s learning. This kind of investment ensures all children gain access to quality early childhood services, regardless of what their parents can pay.
In 2009, governments committed to <a href="https://www.education.gov.au/national-partnership-agreements" target="_blank">15 hours of preschool for children in the year before school</a>, recognising this would yield strong public benefits in the long-term.
This investment logic is similar to schools: goverments pay, children learn, and the economy and society benefits. Parents can pay extra if they choose, but every child is guaranteed a quality education.
Few people would question this logic for schools, but the Australian government is <a href="https://www.education.gov.au/universal-access-early-childhood-education" target="_blank">still holding back</a> from funding preschool long-term. This instability creates inefficiencies. <a href="http://www.mitchellinstitute.org.au/wp-content/uploads/2019/10/UANP-review-submission_Mitchell-Institute_.pdf" target="_blank">Many preschool staff are on short-term contracts</a> and families are unable to plan their investment in their child’s early learning.
Other countries do this better. Australian families might <a href="https://www.smh.com.au/education/looking-to-swedish-model-of-childcare-and-education-20150518-gh48hj" target="_blank">look longingly to Sweden</a>, which provides over 500 hours of free education and care for children aged three to five, and low fees for younger children, matched to families’ income. Sweden is in the <a href="https://www.dca.org.au/sites/default/files/share_the_care_final.pdf" target="_blank">top five countries for working mums</a>, and <a href="http://www3.weforum.org/docs/GCR2018/05FullReport/TheGlobalCompetitivenessReport2018.pdf" target="_blank">top ten for economic competitiveness</a>.
A shift from private to public investment is possible even in early childhood systems more similar to Australia. In Canada, a major review of early childhood funding concluded <a href="https://theconversation.com/why-free-preschool-makes-the-most-sense-for-families-94716" target="_blank">free preschool from age 2.5</a> was the fairest solution, above all other options.
The review also found tax deductions (a solution <a href="https://www.smh.com.au/money/tax/plan-for-tax-deductible-childcare-ought-to-be-on-the-table-20200120-p53t2k" target="_blank">proposed in Australia</a>) favoured middle-income families, but <a href="https://theconversation.com/why-an-ontario-tax-credit-for-child-care-is-a-bad-idea-115207" target="_blank">left low-income families behind</a>. This is because they wouldn’t earn enough for tax credits to cover the costs of quality education and care.
Whatever the solution, something has to change. As annual government investment in early childhood <a href="http://www.mitchellinstitute.org.au/reports/australian-investment-in-education-early-learning/" target="_blank">approaches $10 billion</a>, and families still struggle under the burden of costs, the <a href="https://www.theage.com.au/opinion/child-care-policies-australia-is-waiting-20040113-gdx3o5" target="_blank">longstanding “barbecue stopper”</a> of childcare costs needs to become an evidence-based debate about smarter investment.<img src="https://counter.theconversation.com/content/131748/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/jen-jackson-424659" target="_blank">Jen Jackson</a>, Education Policy Lead, Mitchell Institute, <a href="https://theconversation.com/institutions/victoria-university-1175" target="_blank">Victoria University</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/quality-childcare-has-become-a-necessity-for-australian-families-and-for-society-its-time-the-government-paid-up-131748" target="_blank">original article</a>.
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Why is childcare so expensive in Australia? Jen Jackson

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A new childcare centre in North Coogee has sold off-market, to a syndicate arranged by the Perdaman Group, for $7.1 million.
Located at 53 Orsino Boulevard, the centre was developed by investment and development firm RG Property, and pre-sold prior to completion of construction.
The building is located in the centre of Port Coogee, and sits adjacent to the town’s Village Shopping Centre.
Spread across two levels, it includes seven separate activity rooms, external play areas on both the ground and first levels, and places for 125 children.
Savills Australia agent, Barney Dear, negotiated the sale, which represents a yield of 6.25%.
“To date, this is the highest value childcare sale we have seen in the Perth market, and it further demonstrates the strengthening demand for this sector,” said Mr Dear.
Perdaman purchased the centre upon the signing of a 15-year lease by new tenant Insight Early Learning, who have two 10-year options to renew.
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North Coogee childcare centre sold to Perdaman for record price

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Tom Shelton’s Bridport Property, a child-centre located in the Melbourne suburb of Kensington, has sold for $8,250,000 at auction.
The former office building-turned-childcare centre has a land area of 824 square metres and a building area of 1,451 square metres. 
It has a passing income of $450,800 and is zoned Mixed Use – allowing for development of up to eight-storeys.
The landmark site at 64-66 Stubbs Street is well-known for its red brick finish, the only one in the area, and benefits from dual street frontages. 
The centre’s building is classified by the state government as historically significant for demonstrating the historical and social development of the area (Kensington), making it of important aesthetic or scientific contribution. 
Located in the state government’s Arden Urban Renewal Precinct, an area slated to become a global knowledge hub and central city destination, Kensington has significant growth potential – the area is expected to act as a base for 34,000 jobs by 2051. 
The precinct has been rezoned to cater for population growth and will create a sustainable living and working environment, featuring cycle paths, green spaces and a newly constructed train station, Arden Central.  
 
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Tom Shelton’s Kensington childcare centre sold at auction

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Recruitment boss Phil Kerry and his wife, 1984 Olympic Games gymnast Anne-Maree, have reputedly secured their next eastern suburbs home renovation project.
It is the 1880s Victorian Regency trophy mansion, Larissa in Woollahra, which Sam Towndrow and Mark Lowe at Ballard Property sold for the Benevolent Society after 40 years of ownership.
The $8.5 million Nelson St offering was listed last spring when the heritage-listed building was in use as a childcare centre. It was a tough one to sell as the front facade of the seven-bedroom house faces away from the street.
The Kerrys recently sold Darling Point’s Greenoaks Cottage for $18 million-plus also after a year on the market. It was built in 1850 for industrialist Thomas Mort.
This article was first published in the Sunday Telegraph. 
 
 
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Woollahra trophy home Larissa sells to recruitment boss Phil Kerry

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A childcare centre in Bellmere, just north of Brisbane has been sold for $4.68 million transaction.
The purpose-built property is occupied on a 15-year lease with option by the UK-based childcare group, Busy Bees, a global childcare organisation backed by a Canadian pension fund with approximately 600 centres around the world including and 40 (and growing) in Australia.
The Bellmere facility has 120 childcare places on its approximately 3,482 sqm site.
Deepen Khagram of RE/MAX U said, "the buyer was initially wanting a service station to add as an asset to his self-managed superannuation fund but he saw this site offered an excellent opportunity and a solid investment asset."
“He transacted the deal while travelling overseas on holidays,” Mr Khagram said.
The sale price reflected the yield of 6.15 percent.
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Bellmere child care facility sold for $4.7 million

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A childcare centre in Melbourne’s west is set to be auctioned this month.
The centre at 2 Fogarty Street, Williams Landing is leased and operated by Explorers Early Learning.
The 1086 square metre facility occupies a 2900 square metre corner site.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/14/WilliamsLandingChildcareCentre21.jpg" alt="">
It is directly across the road from the forthcoming seven-stage Addison residential development.
Immediately to the east is a proposed $340 million mixed-use commercial development.
The two-stage Williams Landing Shopping Centre, which is currently under construction, is just down the road.
Explorers Early Learning has a new 15-year net lease over the property, with options through to 2064 and fixed 3% annual rent increases. It is licensed for 168 long day care places.
The centre currently draws an annual net rental income of $493,785 (plus GST).
The auction will be held October 30.
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Williams Landing, Melbourne childcare centre comes onto the market

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A childcare operator has secured two adjoining bayside allotments for redevelopment in a transaction worth $2.2 million.  
The Wynnum properties located at 238 and 242 Bay Terrace were sold by Robert Dunne and Tim Packman of Savills.  
It was offered to the market via an Expressions of Interest campaign.
With a combined site area of 1,918 sqm, the properties are improved with a single level church hall and an 180 sqm vacant four bedroom house. 
“There was a lot of interest on the offering from childcare operators as the improvements on site could be easily repurposed for this type of use,” Savills Director of Commercial Sales, Robert Dunne said.  
The buyer, Building Futures, are a multigenerational family owned business providing Early Childhood Education services. 
“Wynnum piqued our interest, as we felt that it was a good location and suitable for our development processes. I particularly loved the view from the Manse and the architecture of the church hall,” CEO of Building Futures, Vicki McKinnon said. 
Subject to design considerations, Building Futures plan to have 120 placements at their new Wynnum location, and anticipate the centre to be open in 2022.
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