The Not For Profit has acquired a 4,768sqm site in Mitchelton, 8km northwest of the Brisbane CBD, for $5 million plus GST, with approved plans for a four-storey, 106-bed residential aged care home.
"At present, we do not have immediate development plans," a spokesperson for Southern Cross Care Queensland told The SOURCE.
"We are currently evaluating the potential opportunities associated with this acquisition as part of our comprehensive five-year strategic plan.
"We want ensure that any services we introduce align closely with the needs and aspirations of the Mitchelton community."
The cleared site consists of four lots and is adjacent to Brookside Shopping Centre.
Knight Frank selling agent Christian Sandstrom said there was strong buyer interest during the Expressions of Interest campaign, resulting in four offers.
“The defensive characteristics of the healthcare sector and the demographic tailwinds – with Australia facing an ageing population – are driving investment in the sector," said Knight Frank selling agent Sam Biggins.
“Investors are increasingly looking to alternative sectors outside the traditional property sectors, and healthcare is attracting a lot of interest due to its secure investment fundamentals."
Browse agedcare101 and see the availability.
