A vacant aged care facility in Donvale, Melbourne, operated by Bupa until July 2022, has been sold for $12M to an overseas investor.
The new owners plan to refurbish the building, located 20km east of the Melbourne CBD, and reopen as an aged care facility.
CBRE Sales and Leasing in Aged Care Marcello Caspani-Muto, Sandro Peluso and Jimmy Tat managed the sale on behalf of Melbourne-based property investment company Region Amber.
“Nationally, the volume of vacant seniors living and healthcare assets continues to climb,” Marcello said.
“We saw record volumes of transactional activity in 2022 and we are on track to surpass that again in 2023.
“Our team has witnessed continually strong activity across the Victorian market with heightened levels of opportunity across the Queensland metropolitan markets, we are also now beginning to see a flow-on effect across New South Wales.”
“Until recently, Chinese groups have focused primarily on development or retail investment assets, however that interest is now widening to include aged care, health and childcare assets,” Jimmy said.
“Historically China’s consumption has centred on essential items such as food, beverage, clothing and footwear, but the rise of the country’s middle class is shifting the focus to lifestyle and health, where higher levels of spending are expected in addition to increased demand for health-related goods."
