Prime West End Development Site Housing Childcare Centre Snapped Up

A large 1338 sqm site housing a childcare centre and residence in West End has been sold for $3.8 million, attracting strong interest from investors eyeing its long-term redevelopment upside.

Read: A Fresh Take on The West End Towers

The property at 86 Jane Street is currently occupied by Edge Early Learning childcare centre, which has a lease running until 2027 with a five-year option. It also contains a five-bedroom, two-bathroom residential dwelling.

Edge Early Learning at Jane Street is an educational facility that has 44 spaces and consists of three separate classrooms or learning environments. These three distinct areas are designated for different age groups: one for infants (Nursery), another for toddlers (Toddler room), and the third for preschool-aged children (Kindergarten room).

Photo credit: Edge Early Learning West End – Jane Street/Google Maps

The site was purchased by Shally Family Trust after an expressions of interest campaign that generated 78 inquiries and multiple offers, despite initial price expectations over $4 million not being met.

Deepen Khagram of Remax Commercial, who brokered the deal on behalf of a syndicate of vendors, said the sizeable land holding in a prime riverside location was the major drawcard.

Childcare centre
Photo credit: Edge Early Learning West End – Jane Street/Google Maps

Mr Khagram said it was very difficult to find land of that size and location, situated just 2km from the CBD and 200m from the river. He noted that investor interest was outstanding for a tenanted investment on such a large landholding in the heart of West End.

Whilst currently bringing in annual net rental income of over $130,000, Mr Khagram noted the new owners would likely be attracted to the potential to redevelop the site in future given the rapid apartment development occurring in the suburb.

Read: New Housing Proposed at Historic Dixon’s Tannery Site in West End

The site previously changed hands in 2011 at a purchase price of $1.55 million, experiencing significant capital growth and increase in value over the last ten years, driven by the gentrification and urban renewal in West End.

Published 2-May-2024

Developer Submits Plans For Residential Tower With Childcare Centre In West End

A 15-storey residential building with a childcare centre would be built on the former site of ABSOE along Boundary Road in West End, if a developer’s plans are granted approval.

Read: Discover Westoria, West End’s New Weekend Night Market

To be called ‘Callista on Park,’ the mixed-use tower designed by fjmtstudio, would be the final stage of West Village’s redevelopment, which includes a previously approved and constructed basement parking and podium level. 

Photo credit: fjmtstudio/BCC

“The proposed final West Village development ‘celebrates the existing garden character of the precinct’ and will be ‘the most sculptural and refined offering in the Village,” planners at RPS Group said.

“Callista on Park will celebrate its garden character by wrapping Mollison Park up its façade plateauing on a true sky garden with watering holes, conservatories and intimate hidden gardens,” the planning documents read.

Residential Tower

childcare centre
Photo credit: fjmtstudio/BCC

The residential building would be a mix of one two-bedroom, 34 x 3 bedroom, 35 x 4 bedroom, and two penthouse apartments. 

Each unit will have a highly functional private open space, ranging in size from 15sqm to 91sqm. It will also feature balcony areas which will be directly accessible from main internal living areas.

 A communal rooftop garden, with an area of 1,370sqm featuring hard and soft landscaping and open space, has also been proposed.

As for parking, the development proposes to supply a total of 178 residential component car parks including 161 residential spaces in dedicated areas across Basement Levels 2, 3 and 4.

Childcare Centre

childcare centre
Plans for childcare centre (Photo credit: fjmtstudio/BCC)

The previously constructed podium level (Level 1) will house the childcare centre, spanning 1,192sqm and will have an outdoor play area on the Mollison Street side which is located across the road from the residential apartments.

The rooftop area will feature outdoor seating, kitchen, dining, sauna, spaces, wellness studio, swimming pool, and landscaping to provide communal areas for residents.

Read: Revised Design Concept for Proposed West End Residential Towers Lodged

For the childcare centre alone,  provision has been made for six car spaces within Basement Level 2 which are to cater for the childcare centre staff parking. 

To learn more about the proposed development, see Brisbane City Council’s website and use the reference A006116369.