Mercy Health are poised to divest their longstanding “Mercy Place Boronia” Aged Care and Community Centre. A site with rich history the subject property was originally home to the sisters of Mercy with residential accommodation and later added the inclusion of a 40 bed Aged Care complex. The property will be offered with vacant possession and includes surplus land for expansion or development.

The subject property features an underlying land area of 1.04ha and is being sold by CBRE’s Australian Healthcare & Social Infrastructure team of Sandro Peluso, Marcello Caspani-Muto and Jimmy Tat. The transaction will be the third time the team have represented the church in 2 years after successful sales campaigns in both Springvale (VIC) and Woree (QLD) of other vacant Aged Care homes.

Expectations are the property will be listed for sale via an expressions of interest campaign launching at the end of February with interest expected from aged care and retirement owner occupiers, NDIS users, short stay accommodation groups and investors looking to refurbish or extend for tenant partners.

Marcello Caspani-Muto said “The property is well located and is only meters from the Boronia road junction shopping mall, Woolworths and all required retail amenity making it the ideal location for numerous users across Aged Care, traditional accommodation, NDIS and more.  There is notable value add potential for the asset given its existing improvements and surplus land component which could allow multiple used across the project (STCA).”

Jimmy Tat added “We have seen such a rapid rise in the divestment of vacant Aged Care assets with no one leading buyer type the stand out so it’s hard to predict who the best end user for the asset will be. We have sold comparable homes to private investors, owner occupiers and funds across various sectors in the past 36 months. It’s clear the value of existing improvements cannot be understated and conversions are possible for occupiers in various categories. These are still far more feasible than new builds.”

The property which adjoins the Boronia Hotel has exposure to three street frontages, namely Marryville Way, Hastings Ave and Torrens Avenue. The formal address is 7-9 Maryville Way, Boronia.

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