Mark and Roy Makari are expanding their presence in Sydney’s South West with a second major proposal for Leppington, this time envisioning a 900-dwelling mixed-use development just 850 metres from their previously lodged tower trio on Fifth Avenue.

The latest application seeks approval for a multi-building project at <a href="https://www.apartments.com.au/new-apartments/230-rickard-road-leppington-nsw-2179">230 Rickard Road, Leppington</a>. The proposal seeks to establish a new focal point for the precinct through a high-density, transit-oriented development supported by diverse land uses.

According to the Scoping Report prepared for the Department of Planning, the scheme includes around 900 apartments across multiple towers, including 135 dwellings designated for affordable housing. A mix of market and subsidised apartments will be supported by ground-level activation through retail and office space, a childcare centre, and a hotel, forming a comprehensive urban precinct.

<img alt="Mixed Use Development 230 Rickard Rd Leppington" data-entity-type="file" data-entity-uuid="34797362-f3dc-4d84-8235-2657fc5f3bde" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Plan.png?VersionId=Uzckrz9tUpDQl5lX1_WMhjnv16bsr8wG" />

The Design Report by <a href="https://www.apartments.com.au/architects/studiosc-0">Studio SC</a> notes that the project “intends to deliver a high-quality, high-density built form that supports the vision for the Leppington Town Centre, integrating mixed-use outcomes and public domain upgrades.” The development is expected to be delivered in stages, although a precise timeline is yet to be confirmed.

The project will be assessed through a future State Significant Development Application, with the Scoping Report indicating the team will seek design excellence via a competitive process or through an expert design review panel. Early massing diagrams suggest a series of mid- to high-rise buildings framing a central landscaped spine, with emphasis on pedestrian permeability and public space.

The planning documentation flags a strong sustainability agenda, stating that the development will “respond to the urban heat island effect, incorporate water sensitive urban design, and prioritise active transport”.

<img alt="Mixed Use Development 230 Rickard Rd Leppington" data-entity-type="file" data-entity-uuid="369d7b54-1279-4cde-88ec-dcb215594414" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Podium_1.png?VersionId=QArL7B2kkLt63vl5xvL0FNV_ardAlez4" />

The proposal follows in the footsteps of the Makaris’ nearby Fifth Avenue site, where they’ve submitted plans for three towers comprising nearly 500 apartments, with 10 per cent dedicated to affordable housing. That project features commercial podiums, a childcare centre, and a new public park that would occupy more than a third of the site.

Both developments are situated within walking distance of Leppington Train Station and fall under strategic precinct plans promoting higher density housing. The town centre is undergoing substantial transformation, driven by state government planning reforms aimed at fast-tracking housing delivery.

Together, the two projects represent a combined ambition of nearly 1,400 new homes across just under two kilometres of central Leppington.

Staff Writer

First look: 900-home mixed-use precinct planned for Leppington

Leading Australian integrated property development group, <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a>, has released the signature penthouses crowning its landmark AURA by Aqualand precinct at 168 Walker Street in North Sydney, unveiling Il Magnate and La Divina as the largest and most luxurious penthouses in the suburb.

With prices anticipated to commence from $15 million, and each accompanied by a new Porsche Carrera 911 valued at over $500K, the residences mark the culmination of <a href="https://www.apartments.com.au/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">AURA by Aqualand</a>’s decade-long journey and the beginning of its final sales chapter. 
&nbsp; 
Their release follows more than $850 million in record-breaking residential sales and the building’s completion and occupation.

[smartcode_project:default project_id=30959 project_image_fid=358868]

The Richards Stanisich-designed 284 sqm Il Magnate and 224 sqm La Divina penthouses, collectively known as The Icons of AURA, are conceived as grand luxury homes rather than apartments, with expansive proportions, elevated materiality and curated identities that reflect their status as one-off residences.&nbsp;

Il Magnate features a grande master suite, complete with substantial walk-in dressing area and ensuite, three other bedrooms, second ensuite and another bathroom, powder room, open plan kitchen, scullery, substantial dining area and generous living room divided by a feature fireplace, and a multifunction wintergarden, which is ideal for a study and adjoining office breakout space. &nbsp;

Meanwhile, the La Divina residence offers the same amenities, sans the powder room, on a slightly smaller alternate floor plan configuration.

[smartcode_project:default project_id=30959 project_image_fid=358863]

Each occupies half of AURA by Aqualand’s topmost 28th level, comes with four secure car spaces and pairs sweeping Sydney Harbour panoramas with large-scale living spaces, refined detailing and a level of craftsmanship and amenity rarely offered in the North Shore market.&nbsp;

Penthouse residents will also receive Etymon’s ‘Black Key’ private concierge and lifestyle management service, an invitation only offering providing the ultimate in bespoke personalisation, including a range of everyday discrete services, from dinner party management, grocery deliveries, pet feeding or plants watered, dinners, snacks and coffee deliveries, event ticket sourcing, right up to organising travel visas and international airfares. Rarely seen in Australian properties, the service provides residents the benefits of living in a world-class luxury hotel-style home, akin to The Ritz, or the Waldorf Astoria.

[smartcode_project:default project_id=30959 project_image_fid=358862]

<a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>’s Director, Kirsten Stanisich, said the studio set out to craft residences that feel profoundly considered, contemporary and deeply connected to their setting.

“From the outset, we approached these penthouses with the sensibility of a grand Parisian residence - generous in scale, elegant in proportion and designed to feel more like a handcrafted home than an apartment," Stanisich said.

“Their elevated position and sweeping harbour outlook informed every decision, creating a rare connection between urban sophistication and natural calm. We shaped each space with expressive materiality, sculptural forms and bespoke detailing that invite touch and interaction.&nbsp;

“The result is a pair of residences defined by volume, light and an inherent softness - refined, flexible and deeply personal. These penthouses are unlike anything else in North Sydney, offering a sanctuary of true luxury framed by some of the city’s most remarkable views.”

For Aqualand’s Head of Sales &amp; Marketing, Alex Adams, the collaboration with Porsche underscores the shared ethos behind the residences.

“Aqualand’s collaboration with Porsche underpins both brand’s sharing an obsession with craftsmanship, design excellence, and enduring value," Adams said.

“Our penthouses are created for those who appreciate the finer details and expect the extraordinary at every touchpoint. Including a Porsche simply extends that experience beyond the residence - it’s a continuation of the lifestyle our buyers already live.”&nbsp;

[smartcode_project:default project_id=30959 project_image_fid=292862]

Aqualand’s Managing Director, Jin Lin, said the penthouses represent both the pinnacle of AURA by Aqualand and an important design benchmark for the company’s future pipeline.&nbsp;

“These stunning penthouses reflect the purest expression of Aqualand’s design ambition," Lin said.

“The unparalleled design intent makes them not only the glistening crown of AURA by Aqualand, but the crown of North Sydney itself. They’re essentially a thank you gift to a burgeoning community that deserves this level of quality and architectural consideration.&nbsp;

“We’re leveraging the unrivalled standard set here as the foundation for what comes next, including our upcoming Anderson Street, Chatswood; 15 Blue Street, North Sydney and Central Barangaroo projects. Purchasers of these penthouses will essentially be living inside the blueprint of Aqualand’s future.

“These landmark residences demonstrate how far North Sydney has evolved and the strength of demand for highly curated, bespoke luxury homes. They’re more than penthouses, they’re legacy residences.&nbsp;

“With AURA by Aqualand now a thriving new precinct with residents well and truly settled, and our in-house world-class lifestyle amenity activated, Il Magnate and La Divina represent a once-in-a-lifetime opportunity to secure an extraordinary piece of North Sydney’s future.”

[smartcode_project_cta:default project_id=30959]

Joel Robinson

Aqualand launches North Sydney penthouses with free Porsche Carrera 911

<a href="https://www.apartments.com.au/developments/bokarina-qld-4575">Bokarina</a> Beach has quietly evolved into one of the Sunshine Coast’s most complete coastal lifestyle precincts, defined not just by proximity to the ocean, but by how residential living, local retail and everyday amenity are stitched together.&nbsp;

Gardner Vaughan Group’s <a href="https://www.apartments.com.au/new-apartments/bask-bokarina-38-bokarina-boulevard-bokarina-qld-4575">Bask Bokarina</a> now represents the final residential chapter in that transformation.

[smartcode_project:default project_id=141609 project_image_fid=333360]

Over recent years, the Bokarina Beach precinct has taken shape as a walkable, community-oriented neighbourhood, anchored by beachfront access, Lake Kawana to the west, and a growing mix of cafés, specialty retail and public open space.&nbsp;

With Zinc Bokarina already delivered next door by <a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> (GVG), Bask is the last opportunity to buy a brand new apartment within the precinct, effectively rounding out a fully formed coastal village.

GVG has positioned Bask to strengthen that lifestyle framework. Nine ground-floor retail spaces are planned beneath the residences, extending Bokarina Boulevard’s existing activity and reinforcing the area’s everyday convenience, from casual dining and coffee to local services, within a short walk of the beach.

[smartcode_project:default project_id=141609 project_image_fid=333359]

The residential component comprises 135 apartments across two buildings, Mydas and Caretta, with a clear shift toward larger three- and four-bedroom layouts and penthouses. That mix reflects a maturing buyer profile in Bokarina, where demand is increasingly led by owner-occupiers and active downsizers seeking space, permanence, and connection to place rather than short-term coastal accommodation.

Design and amenity have followed the same logic. Residents will have access to a heated plunge pool, gym, private dining room with a full kitchen, landscaped communal gardens with barbecues and a firepit, and a shared herb and vegetable garden, facilities intended to support daily use rather than resort-style turnover. Pet-friendly features, including a dog wash bay, acknowledge both buyer expectations and the area’s dog-friendly beach, located around 250 metres from the site.

[smartcode_project:default project_id=141609 project_image_fid=333366]

“Bokarina has become one of the Sunshine Coast’s most desirable beachside communities, and Bask represents the very last chance to buy new in this location,” GVG Director Sam Gardner said.&nbsp;

“Our focus has been to create spacious, functional apartments that meet the needs of locals who want to downsize without compromise, as well as those seeking a full-time coastal retreat.”

Positioned between the Pacific Ocean and Lake Kawana, Bask apartments have been oriented to capture outlooks toward the water or the Glass House Mountains, reinforcing the project’s connection to its natural surroundings. With parks, beachfront paths, hospitals, retail and public transport already in place, Bask arrives at a point where the broader precinct is no longer emerging, but established.

Construction is expected to complete in Q3 this year, with apartments ready to move into this Spring.

[smartcode_project_cta:default project_id=141609]

Bask to complete Bokarina’s Sunshine Coast lifestyle precinct as final apartments are released

Property development giant <a href="https://www.apartments.com.au/developers/avid-property-group">AVID Property Group</a> is approaching completion, and sell-out, of its Surry Hills apartment development, <a href="https://www.apartments.com.au/new-apartments/the-rathbone-23-47-flinders-street-surry-hills-nsw-2010">The Rathbone</a>.

The Flinders St project has sold well over half of its 32 apartments, which will sit above two retail spaces.

Now hitting the market are the final 14 one-, two-, and three-bedroom apartments, which start from $1.15 million. AVID is targeting a mid-2026 completion.

[smartcode_project:default project_id=5947 project_image_fid=51208]

AVID General Manager New South Wales Danny Boubli said as more apartments are introduced to increase housing options in inner-city areas, homebuyers are searching for a &nbsp;sense of belonging in addition to location, convenience and value.&nbsp;

“There are very few opportunities for new developments in Surry Hills, and since acquiring the site, we’ve even seen one early purchaser merge two apartments plans together, reflecting the demand for a spacious, premium offering in a prime location,” Boubli said.&nbsp;

“Demand has been strong since we launched to market – we don’t see these final apartments staying on the market for long.”&nbsp;

Architectural firm Studio SC has designed the building which pays homage to the former 1900s Rathbone Terraces that once sat on the 990 sqm island site.

Boubil said the team has made every effort to create "truly liveable apartments", through&nbsp;functional floor plans, security, storage, and the inclusion of quality fittings.

[smartcode_project:default project_id=5947 project_image_fid=51207]

&nbsp;

Sustainable design has also been implemented throughout the development, with natural light flooding each apartment, ventilation throughout, extensive landscaping and where possible, materials with a high level of recycled content and low volatile organic compound paints have been used. &nbsp;

Apartments range in size from 57 sqm for the one-bedrooms to the large-scale 165 sqm three-beds which are priced at $2,575,000.

[smartcode_project_cta:default project_id=5947]

AVID launches final apartments at The Rathbone, Surry Hills

A wave of investment, renewal and precinct growth continues to shape the northern edge of Macquarie Park, where daily life is supported by a rare combination of university activity, corporate employment, major retail, and expansive green corridors. It’s this convergence of amenity and connectivity underpins the setting for <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>’s <a href="https://www.apartments.com.au/new-apartments/la-vera-94-talavera-road-macquarie-park-nsw-2113">La Vera</a>, which has now topped out and is tracking toward completion in mid-2026.

Within this pocket of the precinct, residents move easily between the area’s key anchors. Macquarie Centre, home to more than 360 retailers, fresh food offerings, dining and entertainment, sits at the heart of local convenience and functions as a major transport interchange. The Metro, T1 rail line and extensive bus network place much of Sydney within quick reach, while surrounding arterial links support direct access to neighbouring districts.

[smartcode_project:default project_id=134951 project_image_fid=5829]

Green space remains a defining feature of the immediate environment. Lane Cove National Park stretches along the northern boundary of the precinct, offering bushland trails, cycling routes and quiet riverfront pockets. Shrimptons Creek and the campus grounds of Macquarie University extend these recreational networks, softening the urban setting and creating a daily connection to nature that informs the project’s architectural response.

<a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> have shaped La Vera around these contrasts. The building’s northern elevation adopts an organic, curvilinear form that mirrors the natural topography of the national park. Three sculpted forms soften the tower’s profile and encourage a stronger transition between indoor living areas, balconies and the broader landscape.

[smartcode_project:default project_id=134951 project_image_fid=223737]

Cox Director Felipe Miranda says the building’s outlook played a central role in the design process.

“The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park… The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies,” Felipe Miranda of Cox Architecture said.

Toward the city-facing side, the design shifts to a more urban expression. A gridded facade and extensive glazing capture CBD views, creating a dual strategy that blends ecological outlooks with metropolitan orientation.

[smartcode_project:default project_id=134951 project_image_fid=5827]

La Vera delivers 169 residences across one- to four-bedroom layouts, reflecting the needs of young families, downsizers, first-home buyers and investors seeking long-term certainty within a high-amenity location. From the project, residents can walk to Macquarie University, Macquarie Hospital and nearby corporate offices, reach national park trails within minutes, and enjoy retail and dining without relying on a car.

The project is delivered by Urban Property Group, a 4.5-star iCIRT-rated developer-builder with more than three decades of experience. The company has become a leader in adopting 10-Year Latent Defects Insurance (LDI), first introduced on its Parq Bexley development and now embedded into its pipeline.

[smartcode_project:default project_id=134951 project_image_fid=223727]

La Vera is the first development in Macquarie Park approved to offer this 10-year LDI policy, adding another layer of protection for purchasers and reinforcing the transparency of the construction process.

Urban Property Group CEO Patrick Elias says this assurance has become increasingly important for buyers navigating the off-the-plan market.

“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been… Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share,” Urban Property Group CEO Patrick Elias said.

Urban Property Group's in-house construction team is forecasting a mid-2026 completion, with <a href="https://www.apartments.com.au/project-marketer/home789">HOME789</a> appointed as the project marketer.

[smartcode_project_cta:default project_id=134951]

La Vera delivers a nature-connected address within Macquarie Park’s core

Childcare

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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>
</body></html>

2020's largest public childcare facility sale in Australia

<html><body>
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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