The empty 31-bed aged care home in one of Melbourne's most affluent suburbs closed several years ago and the site of more than 6000sqm has been sold to a residential developer.
With three street frontages, the site included a school and short-term lease childcare centre, which occupies a heritage listed building, said Ian Sanders, Head of Healthcare and Retirement Living with Colliers, who conducted the sale for the Uniting Church.
Leading property specialists CBRE said they sold 10 vacant aged care homes in 2023, compared with five in 2021 in their 2024 Seniors Living Report.
Tim Hicks, Bolton Clarke's Executive General Manager Policy & Advocacy, said in July if current trends continue, the supply of aged care beds across the country will decline by around 1,000 in 2024-25 despite an increase of more than 7,000 potential residents.
