Pathways Rose Bay seniors housing revealed in $150M ‘super site’ purchase

In October last year, five houses and two blocks of units in Sydney’s Eastern Suburbs appeared on the Million Dollar Listing Sydney portal as an amalgamated site sold for $150 million.

At the time, the purchaser of the 3,000sqm site was speculated to be Graeme Skerritt, the owner of Pathways Aged Care, although the seller Raine & Horne Double Bay stayed tight-lipped on the buyer.

The site, which covers 33-37 Dover Rd and 2-30 Wilberforce Ave, Rose Bay, is close to the 12 houses – 41-55 Dover Road and 32-38 Wilberforce Ave on almost 6,000sqm – that were sold in one line by Colliers and 1st City to Kevin Ryan’s Waterbrook Retirement Living for $173 million in December last year.

Now a scoping report has been lodged for Pathways Rose Bay, at 33-37 Dover Rd and 2-30 Wilberforce Ave, Rose Bay, on the NSW Government’s State Significant Development portal for projects with a capital cost of over $30 million.

The extent of the proposed works includes:

• Demolition of existing structures, site preparation and earthworks;
• Construction of two basement levels with vehicle access from Wilberforce Avenue;
• Construction of two ILUs building being 8-9 storeys in height and a three-storey RAC facility/building containing approximately 70 units and 50 rooms respectively;
• Communal facilities for the ILU and RAC including resident lounges, cinema, kitchen facilities and swimming pool; and
• Landscaping works including tree replacement.

The scoping report by Juliet Grant, Executive Director of Gyde Consulting, states the site utilises the provisions of Chapter 3, Part 5, Section 87 Seniors Housing which enables RAC and ILU developments to benefit from an additional 3.8m height to the applicable height of building control.

The proposed development of the ILU will also comply with the applicable 25.8m height limit and the 14.3m height limit for RAC.

Graeme Skerritt’s business is one of the most prolific developers in Sydney’s ageing sector.

Pathways already owns and operates:

• a 105-bed aged care facility in Killara, 14km north of the CBD
• a 121-bed facility in Northbridge, 6km north of the CBD; and
• a 169-bed facility in Bundeena, 29km south of the CBD.

The operator also has planning approval for the $98.5 million Amara Cremorne with 58 ILUs and a 41-bed RAC and another State Significant Development proposal for Leura in the Blue Mountains.