Prospective buyers flock to West Croydon aged care facility on large landholding
A large landholding in a tightly-held and highly sought-after inner northwest suburb is drawing prospective buyers in droves.
UnitingSA is selling the sprawling 2787sqm West Croydon site at 88-94 Robert Street, which is home to the St Teresa Aged Care facility.
Selling agent Justin Hazell, of Colliers International Adelaide, said it had attracted a “huge amount of interest” since hitting the market from those interested in redeveloping the site or using its existing building.
“The interest has come from both the development sector and also owner-occupier accommodation providers,” Mr Hazel said.
“The property is well positioned to appeal to operators seeking to reuse the significant and adaptable improvements for ongoing use – including supported and disability accommodation, homelessness, crisis accommodation, student housing, boarding housing or hostel – or residential developers seeking to reconfigure the improvements or redevelop the site for residential use.”
The site spans four titles and includes a large building with a combination or single and shared rooms for 46 residents, a communal dining and lounge room, kitchen, laundry, nurses’ station, office spaces and consulting and clinical rooms, as well as loading and parking spaces.
Mr Hazell said it was not just the property’s size but its location that was a big drawcard.
“West Croydon Railway Station provides exceptional access to the CBD only a short stroll from the property, while the bustling Queen Street/Elizabeth Street cafe precinct offers an eclectic mix of shops and eateries within an easy walk,” he said.
The property is being sold without a price tag, with expressions of interest closing on March 4.
Mr Hazell said UnitingSA was selling the site as it planned to move its residents to its $55 million integrated aged care and retirement living complex at West Lakes, which was almost finished.
“They’re expecting to vacate probably around the end of March,” he said.