Savills News

Family owned childcare business secures fourth premises

A childcare operator has swooped in to secure two adjoining bayside allotments ripe for redevelopment in a transaction worth $2.2 million.

Offered to the market via an Expressions of Interest campaign, the Wynnum properties located at 238 and 242 Bay Terrace were sold by Robert Dunne and Tim Packman of Savills.

With a combined site area of 1,918sq m, the properties are improved with a single level church hall and an 180sq m 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 to families across South East Queensland.

Founded in 1994 by John and Gloria McKinnon, Building Futures currently operates in three locations across Brisbane, with their son Derek and daughter Vicki the CEOs.

CEO of Building Futures, Vicki McKinnon, said they were keeping an eye out for property that would enable their services to be offered further across the Brisbane region.

“There is an oversupply in the childcare sector at present, however in the Wynnum/Manly area that is not the case.

“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,” Ms 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.

Learn more about Savills Metropolitan & Regional Sales.

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