Ramsay lists enormous ex-hospital in blue ribbon Grace Park
Another leafy east Melbourne site until recently used for essential services has hit the market with a chance it could wind up in the hands of an apartment developer.
The 4780 square metre ex-Ramsay Surgical Centre at 29 Hilda Crescent, Hawthorn, sits within the suburb’s exclusive Grace Park precinct.
The improvement is configured as a 37 bed facility.
Occupiers would be competing with developers though with a residential zoned site this scale non-existent anywhere else in Hawthorn’s heritage listed Grace Park precinct.
In 2023, Piccolo acquired an ex-aged care home in tree-lined Barry St, Kew, now making way for a multi-building, luxury apartment project.
Meanwhile last year, developer Vali Valibhoy bought Surrey Hills’ historic Mackillop Estate also as a residential play. Youth With a Mission Church was that seller.
Blue ribbon site
This pocket of Hawthorn is about four kilometres from the city (continues below).
A home in the estate sold in 2024 for $18.2m.
“The strength of Hawthorn’s residential fundamentals along with a median house price above $2.7m creates a powerful underpinning for any future owner occupier,” CBRE’s Sandro Peluso, who is representing Ramsay Health with Marcello Caspani-Muto and Jimmy Tat, said.
“You couple this replacement cost with the significant raw land value and we expect appeal from a wide range of users including owner occupiers, aged care or retirement living operators and groups seeking to reposition or intensify the existing improvements,” he added.
The site lends itself to a flagship senior living project, according to the executive.
Also today we are reporting Abadeen bought the Pharmacy Guild of Australia’s Hawthorn headquarters, on 1300 sqm, for $16.83m.
Subscribe to our newsletter at the bottom of this page.
