A number of crèches will be launched next month in Castleknock, Sandyford and west Dublin
The early years sector in Ireland looks after more than 200,000 children in 4,600 childcare services. It employs more than 26,000 professionals nationally and demand is continuing to grow with many centres operating waiting lists.
Estate agent Hooke & MacDonald, which focuses on new crèches, will launch a number of crèches next month in Castleknock, Sandyford and west Dublin. The agency’s Conor Steen said that prices are dependent on the quality of the crèche being offered and the size of the crèche is an important factor.
From our recent experience, crèches being sold in shell and core condition range from crèche to crèche
“Pricing will also be dependent on the crèche layout, outdoor play area size, parking provisions and location within the overall scheme. A well thought out crèche that addresses those requirements will be well received as reflected in our experience of operators competing for those types of crèches,” he said.
“From our recent experience, crèches being sold in shell and core condition range from crèche to crèche. Typically, crèches we have recently sold were ranging from €165 to €210 per square foot (€1,776 to €2,260 per square metre) plus VAT in Dublin and €130 to €140 per square foot (€1,399 to €1,507 per square metre) plus VAT in Kildare and Wicklow,” Steen said.
He said the larger crèche operators who have been particularly active in the market in recent years are targeting crèches which are a minimum of 500 square metres and are more likely to pay a premium price.
They have “a track record of promptly moving through a sales process, are used to pricing up crèche fit outs from recent projects . . . Having a larger crèche will allow them to absorb the costs as the crèches will cater for a larger number of children.
“Creches under 500 square metres are a more challenging prospect. However, this opens the door for the small- to medium-sized childcare operators with the opportunity to further expand, typically within close proximity to their existing premises,” he said.
“Operators target well-located crèches, close to family homes that will fill the crèche from both the newly delivered housing development and surrounding existing residential schemes. Crèches that are located on good public transport are also an important factor for operators to allow their staff to get to and from work each day.”
Among the crèches sold or let through Hooke & MacDonald is the Elsmore crèche which it sold on behalf of Cairn Homes in Naas, Co Kildare. Elsmore is a development of over 500 houses and apartments and the crèche, extending to 684.4 square metres, on the ground floor of an apartment block, was offered for sale in shell and core condition.
The agency also sold the standalone purpose-built crèche within the Archers Wood development in Delgany, Co Wicklow, in shell and core condition. It extends to 616 square metres and is complemented by a 254 square metre outdoor play area.
In west Dublin the agency also sold Cairns’ Shackleton Mill crèche in Shackleton Park, Lucan, in shell and core condition. Comprising a ground- and first-floor dual aspect property, it extends to 690 square metres and benefits from a substantial outdoor floor area. There are six parking spaces.
In terms of lettings, Hooke & MacDonald arranged the letting in shell and core condition of the 254 square metre St Clare’s crèche in Harold’s Cross, Dublin 6, on behalf of Patrick Crean’s Marlet development company.
A number of new crèches have recently come to the market in Dublin and Kildare through other agents.
At Newpark Chapel Road, Kinsealy, Co Dublin, a 185 square metre crèche in shell and core condition has been developed by the O’Flynn Group in its Kinsealy Woods residential development of two, three, and four bedroom homes.
Jennifer Prunty of Lisney, who is handling its sale, is quoting €400,000 for this purpose-built, single-storey crèche which comes with a 138 square metre external play area and four surface car parking spaces.
In Chapelwood Drive, Hollystown, Dublin 15, a crèche of more than double that size extends to 436 square metres. It has the advantage of having operated as a crèche and been fully fitted. Consequently the agent Ivan Tuite of O’Connor Shannon is quoting a €1.375 million for the two-storey property which is complemented by a secure outdoor play area of 173 square metres and parking for up to 14 cars.
Tuite said that its large floored attic could also be easily converted to provide additional space. The owner is retiring from the business.
At Ravens Mill, Rolestown, near Swords in north Dublin, a 256 square metre crèche in shell and core has come to the market. The ground floor free hold property comes with an additional 197 square metres of outdoor play area. Savills is guiding €390,000 for it.
Ravens Mill housing development comprises 129 units including a mixture three- and four-bedroom family homes.
The Property Price Register shows that a nearby crèche in Hollywoodrath, Hollystown, Dublin 15, agreed a lease at €139,200 in August 2022.
Source – Business Post
