"At this stage the advice we have is there are no fatalities other than on the aircraft itself," said Victoria Police Assistant Commissioner Stephen Leane.
The charter flight appeared to have had "catastrophic engine failure" on take-off from Melbourne's small Essendon Airport, he said.
The centre was not open at the time.
Victoria's Police Minister Lisa Neville said the five people were travelling to Tasmania's King Island, in nearby Bass Strait.