This article is from the Australian Property Journal archive
A LOCAL childcare centre owner-operator has acquired the historic Endrim House site in Brisbane’s Toowong, which has been given development approval for a 142-place centre.
JLL’s Sam Byrne and Blake Goddard negotiated the $5.3 million sale of the elevated ridgetop parcel at 28-30 Woodstock Road.
It encompasses a 3,655 sqm primary lot and two residential lot subdivisions of 849 sqm. The vendor had gained approval for a 142-place childcare centre that will occupy the existing residence, and also take in the two separate lots.
Endrim House comprises six bedrooms, three bathrooms, built-in wardrobes, two garage spaces, wine cellar, grand staircase and in-ground pool. American Joseph Badger built the mansion in 1905, having moved to Brisbane to modify the city’s tram network.
Earlier this month, a circa-1874 mansion in Melbourne’s Elsternwick currently being converted to a childcare centre, on a 2,186 sqm site and with a licence for 128 places, sold to a China-based investor for $11.3 million.
Goddard said the purchaser of Endrim House would operate the centre following an extensive refurbishment, adding to their existing portfolio of other centres across south east Queensland.
Byrne said the sale reflects the ongoing demand the childcare market is experiencing, particularly in areas which are undersupplied.
“Toowong provides the perfect demographics, and no doubt the new buyers will create something very special, setting themselves apart from competition in the area,” he said. “Brisbane continues to experience unprecedented development and infrastructure spending that will see the city redefined and transformed. Toowong is particularly well-placed for continued growth.”
Australian Property Journal
