Oreana growth spurt, plans 30 new-build childcare centres
DIVERSIFIED developer Oreana Property is making a significant splash in the early education industry as they prepare to triple their delivery of early education facilities over the next four years.
The Melbourne-based company is set to capitalise on the government’s focus on early childhood policies and the residential growth with the new developments. It will also open up a number of new opportunities for workers as well as families trying to find the right centre for their child.
In recent years, Oreana has added 17 early education centres to Melbourne. As a result, Oreana has progressed into one of the largest suppliers of new-build centres in Victoria.
As a commercial property, residential property and finance divisions entity, Oreana has started focusing on the early education division business in recent years. The opportunities in early education were too fruitful to ignore and their faith continues to pay off.
Over the next four years, the group will deliver an additional 30 new childcare centres as they expand outside Melbourne and into Perth, Brisbane and Sydney. Two Perth sites have already been secured with site exploration in Brisbane and Sydney underway.
The delivery of these centres is supported by the federal and state government and their commitment to growing the space of childcare in the near future.
The $2 billion Preschool Reform Funding Agreement will be a big boost to the industry. The Victorian Government also announced $9 billion will be devoted across a 10-year period to providing universal pre-prep for 4 year-olds, and the development of 50 new government operated childcare centres.
Director of property at Oreana, Chris Raywood says the new facilities will open up fresh opportunities and new methods of education for children.
“Our newest centres incorporate the latest innovations in childcare design including stimulating play spaces, various sustainability initiatives and all-weather piazzas where a range of activities can take place such as chef demonstrations, communal gatherings and parent events,” Raywood said.
“This ensures that children are exposed to the most industry-leading learning opportunities and experiences, which in turn maximises occupancy for childcare operators.”
The level of investment interest in these centres has also been hugely beneficial for Oreana with early education centres classed as ‘safe’ assets.
“Early education centres continue to sell for tight yields which shows the strong demand from investors. We anticipate this demand to only grow stronger as investors focus on ‘safe’ asset classes amid stock market upheaval and headwinds being experienced in other property asset classes,” Raywood said.
Raywood adds that Oreana’s focus is delivering strong facilities to an important sector that needs support.
“Oreana has always applied a strong community focus to all its developments, including in the residential and commercial sectors. Since early education centres are integral to local communities our involvement in the sector aligns well with our Group strategies and values,” Raywood said.
“The strategic growth of our early childhood division is also backed by our belief in the importance of delivering innovative early education centres for suburbs where there is a strong need.”
“We fully support the additional childcare places being funded by federal and state governments because this is enabling more women to join the workforce, which is positive, especially amid the rising cost of living,” he adds.
Author: Patrick Staveley (Australian Property Journal)