The 37-bed aged care home in Newport, 7km southwest of the Melbourne CBD, has been acquired from Not For Profit Mercy Health for $5.7 million.
The property was sold through CBRE Australian Healthcare and Social Infrastructure's Marcello Caspani-Muto, Sandro Peluso and Jimmy Tat.
The sale price equates to about $154,000 per bed for the facility, which was closed in 2020.
“We are seeing greater competition than ever for these [aged care] assets across a wide range of users which are not always specific to aged care," Marcello said.
"In this instance there was competition from NDIS users, aged care operators, and healthcare owner occupiers.
"Given the notable undersupply of beds in the area and improved height potential there is exciting potential for this property in the coming years."
The 3,178sqm site had been vacant for nearly three years and included two adjoining residential properties, providing room for future redevelopment.
Mercy Health has 30 aged care homes in VIC (21), WA (5), NSW (3), and QLD (1), but has sold five aged care homes through CBRE in the last three years.
