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News release


18 former ABC Childcare development sites released to the market

AUSTRALIA, 3 April 2009 – A total of 18 development sites around Australia, most with planning approval for a childcare centre, are being offered to the market for sale. 
Austock Property Management Ltd (‘Austock’) has appointed global commercial property services firm, Jones Lang LaSalle, to manage an Expressions of Interest (EOI) process making use of its national footprint to invite interest from prospective buyers around the country.
The 18 mostly vacant sites to be sold are located in capital cities and regional centres across Australia, with 7 properties in Queensland, 4 in Victoria, 4 in New South Wales, 2 in Western Australia and 1 in South Australia. 
The sites are predominantly zoned residential and also include community, urban, rural and special development.  The sites have the potential to be used for a variety of purposes and not just for the provision of childcare.
Andrew Wood, Managing Director – Victoria for Jones Lang LaSalle, said, “The real attraction of these sites is the flexibility of use. While almost all of the sites have planning approval for a childcare centre, many other options are possible (subject to planning approval).  In the current times, premiums are being paid where owners can change the development to suit a changing market place. 
“In fact two of the properties have partially built childcare centres already constructed so they are straight forward opportunities for childcare operators to complete works and then open for business.  There are also other potential uses that these sites can be utilised for and we expect interest from a wide range of users.
“A new purpose built childcare facility is obviously very attractive to clientele, easier to maintain, and is a valuable prospect for any investor or operator,” Mr Wood said.
The sites are strategically located across Australia and with an average size of approximately 2,800 sqm offer flexibility of use and development potential.
The 18 development sites are in addition to the 43 former childcare centres that are now vacant recently offered across Australia.
“We closed Expressions of Interest on the 43 former centres last week and there has been strong interest across the country with hundreds of registered inquiries.  We hope the development sites will also see a similar level of interest,” Mr Wood said.
Expressions of Interest for the development sites close at 1:00pm (local time) on Wednesday 29th April 2009 at the local office of Jones Lang LaSalle in each capital city.
For further information regarding development sites for sale, go to