Prime former Sydney aged care site sells for $11.695M

A PRIME aged care site that closed its doors in May 2019 has been snapped up by Thompson Health Care for $11,695,000 at 144-146 Beecroft Road, Beecroft, Sydney.

The asset, that was known as Judy Cameron House, sat on a 6,152sq m* site and housed a 77-bed facility as well as a heritage-listed home.

The property was sold by Ray White Commercial Western Sydney Principal Peter Vines, in conjunction with Colliers International.

The purchaser was represented by Shane Nicholson of the Commercial Collective.

Mr Vines said not-for-profit sellers Anglicare would be able to better use the funds for higher-need projects that they were working on throughout Western Sydney and the sale was a targeted off-market campaign.

“The key to a deal like this is having a strong database and understanding what their individual requirements are,” he said.

“We directly approached a select group of aged care providers and other alternate users and ended up securing a deal worth $11,695,000 that incorporated the property and bed licenses. The facility ceased operating 12 months ago and was available as vacant possession.

“The existing structures include an original single level heritage cottage (Brunoy House) which was originally built in 1916, plus a purpose-built part three-storey aged care facility (incorporating Brunoy House) that was completed in circa 2000.

“The existing structure provided a range of development opportunities subject to council approval and benefited from stunning landscaped gardens.

“The new owners will likely upgrade the premises but they’re lucky as the facilities are relatively modern in comparison to other aged care facilities and is in a very affluent part of Sydney.”