Frenchs Forest kindergarten rides childcare boom to $2.73m
One of the oldest kindergartens on the northern beaches has sold for $2.73 million in a suburb about to get thousands of new dwellings.
Frenchs Forest Kindy in Coster St has been operating for more than 60 years and owned by just two parties in that time – one of whom held the business for 36 years. It has been bought by local buyers and is expected to remain a centre for children.
Michael Burgio, of Novak Properties, says there is lots of local interest for the kindy, which felt like a home, was in a cul-de-sac and catered for just 37 children.
Commercial Insights: Subscribe to receive the latest news and updates
“People feel that some of the big kindys of 80-100 children feel like a hospital and not a kindy and this one was so well-known and liked. Buyers liked the character and the boutiqueness…even down to the pull-down chain toilets that reminded them of their own childhood,” he said.
The double block at 5 and 7 Coster St consists of the kindy plus a single-level house both on 1134sqm of level land.
Mark Novak, also of Novak Properties, says buyers love the cul-de-sac position and the centre’s reputation.
He adds it is unusual for a kindergarten to be in a cul-de-sac as the council prefers them to be on main roads, although parents love quieter areas.
Frenchs Forest is set to boom with thousands of new homes coming in the wake of the Northern Beaches Hospital, opening next year.
The State Government has also announced Frenchs Forest as a priority precinct.
In November an estimated 2200 new dwellings were earmarked for Frenchs Forest.
Last month the State Government revised that figure up to 5360, mostly on the new town centre site, where Forest High School now sits.
Northern Beaches Council chief executive officer Mark Ferguson says if an east-west B-Line bus line and Beaches Link tunnel are built the number of new homes could rise to 10,000.
This article from the Manly Daily was originally published as “Frenchs Forest kindy bought by local buyer for $2.73m”.