TLC buys Hallam site for aged care, commercial investments

The three hectare site was marketed with plans for a 93-lot townhouse subdivision.

TLC Healthcare will build commercial and community investments and expand its Homewood Residential Aged Care complex, in Hallam, after buying a neighbouring block.

The three hectare site, 220-240 Princes Highway, was listed earlier this year targeted to housing developers with concept plans, but not a permit, for a 93-lot townhouse subdivision (right).

About nine kilometres south east of Dandenong and zoned General Residential, it has 193 metres of highway frontage and access points from two more streets.

The northern boundary abuts the 180-room Homewood which includes a TLC Primary Care community and medical centre.

TLC to build aged care and commercial investments

TLC Healthcare chief executive officer Lou Pascuzzi said part of its new site would be used to expand the nursing home by 60 rooms.

It will also seek to construct a 120-place childcare centre and community gym with an indoor heated pool.

A day surgery, part of an expanded medical complex, is mooted, too.

“Despite recent challenges in the aged care and healthcare markets, TLC will continue its growth strategy based on the success of our integrated care model,” the executive said (story continues below).

“The acquisition of this site will allow us to provide a unique range of inter-generational healthcare services at one location, which will be of enormous benefit to the local community”.

Cameron’s John Guastella and Matthew French marketed 220-240 Princes Hwy.

The parcel is understood to be selling for more than $15 million but this could not be confirmed.

Hallam is about 35km south east of Melbourne.

Elsewhere in the south east, TLC Healthcare operates the Noble Gardens facility in Noble Park.

It has also recently refurbished a Wallington complex, Homestead Estate, near Geelong, and completed construction of a vertical aged care home with lower level retail, in Fitzroy North.

Last year the accommodation and service provider announced it would renovate its Sunlight complex at Whittlesea, about 45km north of the city.

TLC Healthcare’s Homewood aged care home (centre) abuts 220-240 Princes Highway parcel (outlined).

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Marc Pallisco

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

Marc Pallisco