Former Taroona nursing home site for sale
No.5 Grange Ave, Taroona. Picture: Supplied
FOR a few years, this former aged care facility has sat unused, but now the wheels are turning on a redevelopment of the site.
Mary’s Grange in Taroona was originally opened in the 1950s. But it has been about four years since the 105-bed facility was closed.
In the past week, Knight Frank launched No.5 Grange Ave to market and partners Richard Steedman and George Burbury report there has been strong interest in this large property.
With what’s on offer to refurbish or repurpose, Mr Burbury described No.5 as a rare property with little on the market in recent years that would compare to it.
Mr Burbury said the combination of the land size, the buildings, proximity to the water and the position in a premium suburb are not often available to purchase so close to Hobart’s city centre.
“As far as price, the market is talking in excess of $3m,” he said.
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No.5 Grange Ave, Taroona.
Mr Burbury said there is a lot of infrastructure on-site, which would be a positive attribute for some purchasers given today’s high costs of materials and construction.
“When you can buy something with so much building already on it, that is going to be attractive,” he said.
Presenting almost as a blank slate, Mr Burbury said options for what could be done with the property were broad.
He said in the first week inquiries had come from local and interstate-based investors, some known for their creative, out-of-the-box approach.
“While it is too soon to say who the purchaser will be, or what their plans for the property will be, there is an existing use in place for an aged care facility,” he said.
“It is zoned Low-Density Residential under the Kingborough Interim Planning Scheme 2015, so residential is also an option subject to necessary council approvals.
No.5 Grange Ave, Taroona.
“A buyer may see it as the site of a grand family home with its river views and proximity to Grange Beach, the suburb’s foreshore track and the Cartwright Reserve.
“There are certainly a number of standout homes in the area, some being neighbours of this property.
“There is scope to demolish the buildings and subdivide or construct about 10-11 lots or townhouses under the current planning scheme.”
Described as a significant asset and land holding in a premium suburb, No.5 Grange offers 1.05ha of land and a large area across its multi-level buildings.
The property is being sold with vacant possession and incorporates three titles.
No.5 Grange Ave, Taroona is for sale by expression of interest, closing on May 2 at 4pm.
