$55 million childcare boost for Sydney

New-childcare-centres-in-Sydney-could-help-investors-decide-where-to-buy_157_69767_0_14094891_300Sydney property investors will always be considering which kind of tenants they’re looking to appeal to, with young families a popular demographic to target.

The selection and locality of early-childhood and primary schools is often a key consideration for such tenants. Therefore, investing in Sydney real estate that’s within close proximity of quality education offerings can be a wise move.

A recent announcement from the City of Sydney may interest these kinds of investors.

On May 15, the City of Sydney announced a $55 million injection for new childcare centres in the New South Wales capital, with extra places being made available.

The Greater Sydney population is ever-increasing – population increases¬†in the area accounted for 78 per cent of NSW’s total population¬†growth in 2012-2013, according to the Australian Bureau of Statistics.

With demand high for quality housing options and good education, investors may wish to act now.

Six new education centres will be constructed in areas where demand for further early childcare places is highest, with around $33 million set aside for this cause. Meanwhile, $22 million will be put towards developing existing centres.

By 2016, the six new centres will offer a further 360 places to pre-school aged children.

“The City has been investigating potential sites and facilities and found that we can fast-track the opening of new centres more efficiently and at a lower cost than we previously thought,” explained Lord Mayor Clover Moore.

“This means we can reallocate $22 million of the childcare budget into creating more than the six centres we originally committed too – this is really good news for parents who live or work in the City of Sydney area.”

A 60-place centre will be opened in Darlinghurst, with construction scheduled for mid-2014. Green Square will also be provided with a new centre as well. Investors may wish to pay close attention to these areas if they want to expand their property portfolio.

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