Japara offloads Mornington Peninsula aged care home

The Capel Sound site (outlined) is about 80 kilometres south of Melbourne.

Japara has sold a Capel Sound nursing home to a China based investor.

The $8.25 million deal for Capel Sands Aged Care reflects a 6.3 per cent net passing yield.

The operator is on a lease expiring in 2026 but with options can stay 12 years longer.

Savills’ Julian Heatherich, Benson Zhou, Nick Garoni and Clinton Baxter were the agents.

Capel Sands Aged Care

The Mornington Peninsula property, 12-16 Capel Avenue, contains 58 beds in a single level structure (story continues below).

It occupies a 4290 square metre General Residential zoned plot with multi-level development upside.

Capel Sound – the name for Rosebud West since 2016 – is about 80 kilometres from Melbourne.

Last March, Japara sold two aged care investments – at Springvale, for $13.38m and Geelong ($3.6m).

In 2019 the group outlaid $10m for three houses neighbouring its Elanora Aged Care complex, in Brighton.

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Marc Pallisco

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