St Basil’s NSW/ACT’s 83-bed former aged care home in Annandale, 5km west of the CBD, has sold at auction for $17.55 million.
The vacant property, at 252 Johnston St Annandale, is expected to be converted to affordable housing.
According to St Basil’s, proceeds from the sale will be used for the refurbishment of its existing aged care homes, which are located in the Sydney suburbs of Randwick, Lakemba, Miranda, Kogarah, and Kensington, and to support the expansion of its services to reach more people in need.
The provider also owns Independent Living units, Day Care Centres, and offers Care at Home.
Ray White Commercial Western Sydney agents Peter Vines, Victor Sheu and Vee Li told Real Commercial there was strong interest in the property, with 150 inquiries and six registered bidders (five active) at the auction.
The SOURCE: Proceeds from the sale of this valuable property will allow St Basil’s NSW/ACT to refurbish its operational aged care homes and allow it to expand home care services, ultimately reaching more people in need.
