Calvary lists ex-hospital
Calvary Health Care has listed a Parkdale hospital bought as temporary accommodation while it rebuilt a Caulfield South site as a health and retirement precinct.
The healthcare group paid $10.2 million for 152 Como Parade West in December, 2019 – four months before the national lockdown.
Healthscope was that vendor; it took a major haircut on the $11m it agreed to accept following a public marketing campaign in mid-2018 from Steller, which collapsed before settlement.
Calvary had only just leased the property from Healthscope before it was relisted for sale in late 2019.
Residential development upside
On 1.18 acres, 152 Como Parade West contains 3500 square metres of improvements leased until late next year to Acciona’s Coleman Rail, which holds some level crossing removal contracts, at $528,000 per annum.
Prior to its use as an office, the buildings were configured with 18 single rooms and seven double rooms – all up able to accommodate 32 beds – a gym, consulting suites and physiotherapy treatment spaces.
As well as occupiers and investors, the agents are expecting developers to look in – zoned General Residential 2, it could accommodate townhouses and, in parts, apartments.
Savills’ Julian Heatherich, Benson Zhou and James Latos are the agents (story continues below).
Parkdale is 23 kilometres south of Melbourne’s CBD.
Ex-Volkswagen dealership for sale
Also this month, in east Doncaster, developer Oliver Tong Yubin has listed a former Volkswagen dealership at 584-588 Doncaster Road, on the south west corner of Elgar, permit-ready for a c$120m mixed use village with 260 dwellings in an 11 storey tower.
Having paid $23.3m in 2015 for the 8176 sqm holding also incorporating 811-813 Elgar Road and 3 Briar Court, the vendor is hoping to break-even; the guide is $20m-plus.
4Cyte Pathology leased the asset for $10,000 a month during COVID.
Savills is again the sales agency.
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