Swings And Roundabouts For Property Investors As New Daycare Centre Is Placed On The Market For Sale



Plans for the building and sale of a preschool childcare
facility – which were disrupted because of COVID-19’s
impact on the construction sector and general community –
have been resurrected.

The state-of-the-art
educational amenity is located in a burgeoning residential
enclave called Lockerbie Estate – sitting on the current
urban boundary of the Waikato township of Morrinsville. The
emerging suburb is one of the largest such urban
developments increasing both housing and social
infrastructure in the Waikato.

The new master-planned
Lockerbie Estate community – including the daycare
facility currently under construction – will see the
creation of some 800 new residential dwellings accommodating
more than 2,500 residents on 79 hectares of what was once
farmland. Located some 29 kilometres east of Hamilton
directly on State Highway 26, Morrinsville has a population
of approximately 7,000 residents.

Lockerbie
and Fairway – artist’s
impression

The greater Lockerbie
Estate development will also include a retirement village,
café, and neighbourhood retail hub. Lockerbie’s
residential development has been planned for gradual
evolution over eight stages – the first of which commenced
last year, with the final phase scheduled for completion by
2030.

The freehold land and daycare facility premises
which will accommodate the Morrinsville Early Learning
Village being built on the corner of Lockerbie Street and
Fairway Drive were first placed on the market for sale in
September last year.

However, as COVID-19 disrupted
not only the scheduled construction timetable for the
property, but also the core business operations of its
owner/developer, the project was withdrawn from the market
until a more appropriate time. With ongoing supply chain
issues in the construction sector this year, many of which
have now been resolved to some extent, the building
postponement decision proved to be prudent.

The
property on the corner of Lockerbie Street and Fairway Drive
is now being marketed for sale by deadline private treaty
through Bayleys Hamilton, with offers closing on June 23.
Salesperson Josh Smith said the 504-square metre
Morrinsville Early Learning Village building had been
specifically designed to radiate from the centre outwards –
with the infants’ area safely encircled by the ‘big
kids’ zone’ and access to shade-covered outdoor play
areas.

The single-storey interior will also feature
administrative office space, a kitchen, laundry, and
separate staff and patron bathroom amenities. Situated on
some 2,492 square metres of freehold land, the Morrinsville
Early Learning Village daycare centre will be licensed to
accommodate up to 85 children – with car parking for staff
and clients, and a substantial on-site pick-up and drop-off
zone to ensure the safety of children attending the
centre.

Located on the corner of Lockerbie Street and
Fairway Drive in Morrinsville, the impressive new facility
is due to open in the middle of next year and will be
operated by Waikato-based childcare services provider Grow
ECE Limited which already runs several other such locations
in the region.

Over the past nine months, Grow ECE
Limited has been focussing on maintaining the continuity of
those existing sites during the difficult COVID-19 Omicron
phase – which has seen staff, attendees, and their family
members impacted with the virus, and having to self-isolate
accordingly.

Grow ECE Limited’s approach to running
daycare amenities is through creating a ‘village’
atmosphere where caring, growing and celebrating the
extraordinary is an everyday experience.

Bayleys
Hamilton salesperson Josh Smith said the growing demand for
early childhood education and care in New Zealand – known
as ECE – was being driven through changes in demographics,
population, and societal changes in the way families lived
and worked.

“For families with two working parents,
along with many solo parent households, outsourced childcare
is an integral and now widely accepted part of modern family
life,” Smith said.

“Public funding for the sector
is reliable and secure. The 2020 Government budget for
example committed an additional $278 million over the
ensuing four years to fund ECE services employing
fully-qualified staff.”

The proportion of New
Zealand children enrolled at education and care service
amenities increased from 63 percent in the 2015 Early
Childcare Education (ECE) census, to 69 percent in the 2020
ECE figures – with the number of weekly ECE attendance
hours also growing over the same period from 22 to 23.3
hours.

“Proximity to higher socio-economic suburbs
where residents generally have more income to spend on ECE
services was an important consideration in the decision to
build this new early childhood centre, along with proximity
to locations where there is a high level of employment – as
parents like to work close to their child’s daycare
centre,” said Smith.

“Morrinsville is increasingly
being seen as a home-buying destination by families priced
out of the Hamilton residential property market but still
wanting to stay in the province, as a more cost-effective
provincial location in which to be live.

“This
long-term pipeline of population growth relocating into
Lockerbie Estate as stages open up will underpin the
customer base for the early childhood centre being offered
for sale.”

Smith said the Morrinsville Early
Learning Village daycare centre was being sold with a
‘sunset clause’ in place to offer guaranteed security of
construction by the agreed date to allow the centre to open
ready for immediate occupation by Grow ECE
Limited.

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