This article is from the Australian Property Journal archive
CHILDCARE operator Building Futures has secured two adjoining Wynnum sites ripe for redevelopment for $2.2 million.
Robert Dunne and Tim Packman of Savills old 238 and 242 Bay Tce in the eastern Brisbane suburb following an expressions of interest campaign.
The properties have a combined site area of 1,918 sqm and are improved with a single level church hall and a 180sqm vacant house with four bedrooms.
Dunne said there was a lot of interest from childcare operators as the improvements on site could be easily repurposed for that use.
Building Futures plan to have 120 placements at the location, and anticipate the centre to be open in 2022.
Founded in 1994 by John and Gloria McKinnon, the company are a multigenerational family owned business that provides early childhood education services at three sites south east Queensland. Their children Derek Vicki are the current chief executive officers.
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 child care 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.”
