Former Canterbury aged care complex expecting more than $10 million

An aerial image showing the site (outlined) in relation to the Canterbury train station.

An estate in blue-ribbon Canterbury, owned until 2016 by aged care entrepreneur John Matthies, is for sale, again.

The 3765 square metre holding at 14 Balwyn Road (pictured top and left) is being offered with a permit for it to be subdivided in two.

The property was formerly occupied as an aged care complex and is still configured for that use, with 30 bedrooms – the majority of which are built into an extension behind a historic Arthur Plaisted designed Tudor Revival style home.

Providers of childcare, medical services and education are also being targeted as part of the marketing campaign. The property could also be converted into a wedding reception or townhouse project, if approved by the local council.

On a tree-lined street near the Canterbury train station and Maling Road shops, the site has surged in value since Mr Matthies sold it for $5.6 million.

It exchanged again for $7.6 million in 2017.

This time around, it is expected to trade for between $10 million and $11 million, following an expressions of interest campaign being managed by RT Edgar’s Glen Coutinho.

 

Marc Pallisco

A freelance property writer and analyst, Marc is a co-founder of realestatesource.com.au.

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