Aranda childcare site snapped up for $1.8 million at auction

A childcare site in the Belconnen suburb of Aranda has been snapped up for $1,825,000 at auction.

The 2348-square-metre parcel of land at 11 Bindel Street, opposite Aranda Primary School and St Vincent’s Primary School, houses an existing childcare facility that will be demolished.

It’s among a slew of blocks earmarked for new childcare centres across the ACT, including a 176-place centre planned for the former West Belconnen fire station site in Charnwood.

Knight Frank negotiated the Aranda sale. The agency’s associate director of commercial sales and leasing, Daniel McGrath, said the auction attracted five registered parties, with 86 bids thrown at the property.

“The winning bid was made by an interstate developer – a first-time purchaser in Canberra – who will completely redevelop the site,” Mr McGrath said

“We received strong interest for this site from both childcare operators and developers, demonstrating a growing demand for childcare-zoned sites.

“This is an excellent result for the owner and really sets the bar for similar development sites across the city.”

Mr McGrath said the competitive auction demonstrated the demand for childcare at prime locations, such as Aranda.

• Related: Childcare slated for Tuggeranong and Ngunnawal
• Related: Hockey ACT lodged childcare plans
• Related: Childcare slated for fire station site

“Aranda is evidently an undersupplied market,” he said. “The location and access to other areas of Canberra makes this a premium opportunity for childcare.”

Knight Frank’s associate director of institutional sales, Nic Purdue said Aranda had become a sought-after suburb thanks to its proximity to the Belconnen Town Centre, amid growing infrastructure, as well as the city.

“With Canberra house prices rising, home buyers are looking to the outer suburbs for better value, so we’re seeing a lot more movement to suburbs like Aranda, which is in turn driving demand for more services like childcare in these areas,” he said.

Childcare centres are earmarked for sites across the territory, with various plans lodged with the ACT government this year.

Earlier this month development applications for centres in the Tuggeranong Town Centre and Ngunnawal were released for public comment.

In January, Hockey ACT revealed plans for childcare centres on unused slices of land at its Lyneham and Greenway sites.