20 June 2017

Melbourne's two new Commercial leases

Guardian

Guardian Childcare and Corning Australia Holdings Co secure leases in Melbourne.

Melbourne – 20 June 2017 – One of Australia’s largest childcare providers Guardian Community Early Learning Centres Pty Ltd (Guardian) and Corning Australia Holdings Co Pty Ltd (Corning), have secured leases in Building C in Wellington 2eleven estate in Melbourne’s Mulgrave suburb. The combined leases total circa $8.2 million.

The estate was proudly developed and built by Frasers Property Australia and Commercial Industrial Property, in joint venture.  

This is Guardian’s 38th custom-designed childcare centre in Melbourne. They have committed to 924 sqm of ground floor internal area, a 922 sqm external space, and 26 car spaces over a 10 year period. The fit-out is expected to be completed this month.

Corning’s tenancy is located on part of the second floor and comprises a 652 sqm office space, together with 35 secure car parking bays (located in the secure deck car park). They have leased the new premises on an initial lease term of five years and are expected to move in early August 2017.

Anthony Maugeri, General Manager Southern Region for Frasers Property Australia’s Commercial and Industrial division comments, “We are pleased to secure Guardian and Corning as tenants in Wellington 2eleven estate, which is one of Melbourne’s fastest growing commercial precincts. There are approximately 1,300 people working in the estate with a further 300 expected when Building C is fully occupied. 

“The state-of-the-art childcare facility will be a welcome addition for staff working in the estate and Monash precinct generally. It is designed with a focus on natural materials, green spaces and natural light, and will offer children a high-quality educational experience in a nurturing, stimulating and supportive environment.”

He added, “Both tenants are located in close proximity to the geographical heart of Melbourne with a large employment base in the surrounding areas. Major transport arterials are also easily accessible. The available space of circa 3,750 sqm in the building is being offered on competitive financial terms and represents significant value when compared to equivalent space closer to the CBD.”

The new childcare centre will provide high quality learning space for children of all ages in light-filled indoor and outdoor learning spaces. Features include a huge outdoor play area with natural gardens, climbing structures, natural play equipment, sand-pits and water play; Reggio Emilia inspired floor plan including atelier, art studio, piazza and stage; parent rooms; drop off and pick up ground car parking spots adjacent to the entrance and a commercial grade open plan kitchen with onsite cook to provide nutritionally balanced meals catering for all children’s dietary needs.

Guardian’s childcare centre is located on the Ground Floor, Building C, 211 Wellington Road, Mulgrave in Victoria. Tenants already in the estate include Monash University, BSN Medical Australia, BMW Group/Alphabet, Mazda and Lunch Box 211 Café. 

Matt Cosgrave and Michael Darvell from Colliers International brokered the childcare deal. Michael Darvell of Colliers International & Jackson Sleeman of JLL brokered the Corning transaction.