Mercy Health have put their vacant 40-bed aged care home Mercy Place Boronia on the market.
The 1.04 hectare property at 7-9 Maryville Way, Boronia, 30km east of the Melbourne CBD, includes residential accommodation, the aged care home, and surplus land for expansion or development. The site has three street frontages.
For sale through CBRE's Australian Healthcare & Social Infrastructure team of Sandro Peluso, Marcello Caspani-Muto and Jimmy Tat, the sale once complete will be the third the team has transacted for the church in two years after selling their vacant aged care homes in Springvale (VIC) and Woree (QLD).
It is expected the property will be listed for sale through an expressions of interest campaign starting at the end of February.
Interested parties are expected to include aged care and retirement village operators, NDIS users, short-stay accommodation groups and investors looking to refurbish or extend for tenant partners.
“We have seen such a rapid rise in the divestment of vacant Aged Care assets with no one leading buyer type the stand out so it’s hard to predict who the best end user for the asset will be," Jimmy said.
"We have sold comparable homes to private investors, owner occupiers and funds across various sectors in the past 36 months. It’s clear the value of existing improvements cannot be understated and conversions are possible for occupiers in various categories. These are still far more feasible than new builds.”
Not For Profit Mercy Health operates 30 aged care homes across Victoria, New South Wales, Queensland and Western Australia.
