Scholastic expands leases adjacent warehouse

Architect’s render of proposed childcare and medical centre at 129 Newling Street, Lisarow

Work is about to commence on a new $6.5 million childcare and medical centre project at Lisarow following Development Approval in November last year.

Located on a 3.898 sqm lot at the rear of the Lisarow retail precinct at 129 Newling Street the project is being managed for Ulawatu Properties Pty Ltd, a joint venture of the Brand Group and Stevens Group.

The development comprises a three-level commercial building of some 1430 sqm with associated carparking and landscaping, as well as playground space for the child care centre.

It is envisaged that medical and commercial users will occupy the ground floor space with the top two levels approved for a 102-place childcare centre.

The ground floor contains two possible medical tenancies. One at 423 sqm and another of 140 sqm. The first floor comprises 432 sqm of space for the childcare centre directly accessing a playground while the top level includes 387 sqm for the child care centre and another playground.

Ulawatu is currently negotiating with an unnamed medical company for the medical space. Little Zak's Academy, a group of early learning centres across Sydney dedicated to providing children with avenues to reach their full potential, has committed to the childcare space.

The Development Application took twelve months to get approved.

Cowyn Building Group have been appointed to build the project with completion expected early 2024.

Scholastic Australia has signed a 5 x 5 year lease on a warehouse complex at 4 Sylvania Way, Lisarow adjacent to their present premises in Railway Crescent. Terms of the lease were not disclosed. The property comprises a site area of 6.48ha IN1 zoned land, improved by two industrial buildings, each including warehouse, office and amenities totalling 9,953.7m². Building 1 has an area of 6,185.5 square meters* and building 2 has an area of 3,768.2 square meters*. Both buildings feature awnings over loading areas and are connected by way of a 534 square meter* breezeway

Commenting on the property Ben Curran from Colliers who negotiated the lease said, “this is a significant transaction for the Central Coast, retaining a Multi-national company and major employer in the area. Scholastic have been located in Lisarow for over 50 years and it is great to be able to assist with their growth strategy. The building was originally built for Sylvania Lighting and most recently occupied by Interpod. A vast amount of works have been carried out to transform the premises from a workshop to suit Scholastic’s hi tech warehouse requirements.”

Off market sale for Platinum office suite

Brad Rogers from Raine & Horne Commercial Central Coast reports the off-market sale of Suite 3.04 at Platinum Erina for $780,000 (GST not applicable).

AAP Finance Brokers were the buyer of the 98 sqm suite which included one undercover and one outside dedicated car spaces.

Commenting on the sale Mr Rogers said, “Demand for smaller suites in Platinum remains stable. There are a handful of buyers looking for offices to purchase and occupy in the 40 – 80 sqm range.”