Old Kyneton Hospital trades for $4.95 million

The heritage protected former Kyneton District Hospital has sold to a developer for $4.95 million.

The derelict property on a 3.6 hectare riverside block at 67 Simpson Street carried price hopes of between $5.75 million and $6.25 million when it hit the market in April.

A high-profile campaign to save the bluestone building from further disrepair and vandalism – and development – was supported by former SBS News presenter Lee Lin Chin in this 2016 YouTube video.

Only 5000 square metres of the 3.6 hectare site is required to be kept as part of the former hospital’s Heritage Victoria listing – putting the riverside holding (outlined) on the radar of developers.

Built in 1856 and one of the state’s earliest country clinics, the facility closed in 2005 when the Kyneton District Health Service opened.

The government sold 67 Simpson Street, which has been on-sold a couple of times since.

The vendor, Hong Kong based Winport Developments, acquired it in 2011 for $1.6 million.

The now lapsed 67-lot subdivision application would have seen townhouses built into bluestone buildings on the site. The grand hospital would have been converted into four luxury apartments.

In 2016, Winport proposed a 67-lot subdivision of the grounds, on the banks of the Campaspe River, which would have seen the enormous former hospital converted into four apartments and other bluestone buildings converted into townhouses.

That redevelopment application lapsed in January.

Last year, Heritage Victoria issued Winport Developments a warning that if it didn’t undertake minor repairs of the property, it risked a $1.5 million fine.

The Campaspe River in Kyneton.

Buxton Ballarat’s Michael Nunn and Ray White Kyneton’s Helen Jens sold the property for Winport Developments.

The agents said that the hospital could become the area’s most beautiful home, gallery or event destination.

The new owner is speculated to be considering restoring the hospital as a residential building and redeveloping the 3.1 hectares of the site which is not protected by the Heritage Victoria listing.

Developed between 1856 and 1858, the building was decommissioned by the state government in 2005.

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Marc Pallisco

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

Marc Pallisco