Prized aged-care development opportunity in Mitchelton offered for sale through Knight Frank’s Christian Sandstrom and Sam Biggins.

Situated in a premium location at 1-7 Northmore Street, in a thriving Brisbane suburb, this property is located in a major health and medical hub and directly adjacent to a major retail destination.

The well positioned 4,768 square metre site is being sold through Knight Frank’s Christian Sandstrom and Sam Biggins with a current development approval to construct a 106-bed aged care facility with a total gross floor area of 6,849 square metres.

Accommodation also includes dining and lounge spaces, cinema, multi purpose rooms and courtyard and terraces areas.

Mr Sandstrom said the in-place approval allows an incoming developer to capitalise on a stunning development scheme. The site is approved for an aged care facility providing the opportunity to meet the market demand for this product.

“The property has approval for a premium four-storey aged care facility, with the in-place approval, cleared site and accessible corner position, providing a ‘blank canvas’ for the incoming developer to commence working with,” he said.

Mr Biggins said Mitchelton boasts an enviable location, nestled in close proximity to leading medical facilities, providing residents access to premium healthcare.

“Among these facilities are the North West Private Hospital, Prince Charles Hospital and the Royal Brisbane and Women’s Hospital. The North West Private Hospital, positioned just 1.7 kms away, has undergone a $55 million expansion in 2020 and is licensed for 150 beds.”

From well-equipped clinics offering primary care to specialised hospitals with advanced treatments, the convenience ensures that timely and quality care is readily available to cater the development of an aged care facility.

Mr Sandstrom added that there is a strong demand for residential, aged care and seniors living accommodation in Mitchelton. Developers can capitalise on this demand as the growth is forecasted to continue.

The suburb is poised for a significant demographic shift in the coming decades, with an increasing ageing population.

Mr Biggins said that currently 12.5% of the population in Mitchelton is over 65, but this figure is forecast to increase in the coming years.

“Mitchelton’s ageing population along with the surrounding suburbs including Keperra and Arana Hills, will drive accelerated demand for aged care accommodation in the area,” he said.

Brisbane is currently experiencing a remarkable transformation into a New World City fuelled by the upcoming 2032 Olympics. This shift signifies the city’s introduction to a new economic era, characterised by substantial fiscal expansion, significant investments in infrastructure, and a rejuvenated sense of business confidence. Consequently, Brisbane has swiftly become an exceedingly attractive location for institutional-grade capital, drawing the interest of significant investment entities both onshore and offshore.

The Mitchelton site is being offered for sale through Knight Frank via an expressions of interest campaign closing Thursday 7th September at 4pm AEST.

To request a copy of the Information Memorandum please click here and / or contact one of the marketing agents Knight Frank’s Christian Sandstrom and Sam Biggins via the contact details below.