Epworth buys up more of Richmond

Epworth paid $4.15 million for 99-101 Bridge Road, Richmond.

Epworth has snapped up a double storey art deco office beside its Richmond hospital’s main entrance.

Struck with separate owners last October and November, the deal includes #99 Bridge Road, on 165 square metres, which traded for $2,172,500 and #101 – the other half of the subdivided building – on 133 sqm ($1.98m).

The healthcare giant is expected to occupy the two storey brick complex (Google Street View image, top), allowing it to quit rented accommodation, including at 173-177 Lennox Street.

Epworths’ main Richmond hospital stretches from Bridge Rd to Erin St.

Last year the group offloaded the Epworth Elim rehabilitation clinic, in the area, for $22.8m with a 20 year leaseback (story continues below).

A proposed development at the Epworth Elim site on Erin Street.

As part of that deal, the buyer, NorthWest Healthcare, is expected to undertake an extension.

Epworth also moved ahead with plans to construct a 12 storey facility on its East Melbourne holding abutting Fitzroy Gardens.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.