Aged care provider sells controversial medical centre
Lyndoch Living, which has just been bought by Respect Group, has sold a controversial three level healthcare centre it developed beside a 198-bed Warrnambool aged care asset – shelving plans to hold it as an investment.
Gunditjmara Aboriginal Cooperative is buying the 3973 square metre complex at 10 Hopkins Road, also going by #24, for an as yet undisclosed price.
It plans to occupy from July 1, upsizing from 3 Banyan St in the area.
The project was approved seven years ago by the Lyndoch board without consultation, requiring $12 million borrowed funds and $10m of its own proceeds to build.
Construction took some year longer than expected, reportedly blowing out costs over $3m.
Lyndoch, which following a period of financial uncertainty, last month merged with Respect, initially planned to develop and hold the asset (the group also controls the Warrnambool Medical Centre, with some 14 GPs).
Next chapter for new centre
Briefly known as the Lyndoch Medical Hub, the Warrnambool clinic contains about 16 suites fitted for, amongst other things, general consultation, pathology and dental (story continues below).
There is also a training area, chemist tenancy and 55 undercover car parks.
The site, spreading 6491 sqm with 65 metres of street frontage, also backing onto the Hopkins River, contains an additional 17 bays.
Gunditjmara is buying it after costs to renovate its property, as planned, looked like surpassing $10m.
Other than the address, its contact details won’t change.
About 260 kilometres south west of Melbourne, Warrnambool is home to about 35,700, according to the 2021 ABS Census.
JLL’s Simon Quinn, Mark Stafford and Thomas Thorsen were the agents.
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