Living Choice purchases Dural land
Living Choice has picked up a Dural site permit-ready for a 66-bed aged care facility and 91 independent living apartments.
The 2.97 hectare property, incorporating 3 Quarry Road and 4 Vines, is understood to be costing $22.5 million.
The vendor, Zhiva Living, was represented by PwC Real Estate Advisory’s Tony Massaro.
Living Choice holds two other investments of this type in the area – at Glenhaven and Galston, the latter which is set to be built.
Closer to the city, in Marsfield, the aged care accommodation provider also owns the Leisure Tea Gardens.
“PwC is proud to have bought together two sophisticated parties aligned in their understanding of the vision and opportunity for the site as a premium vertical retirement and aged care facility,” Mr Massaro said of the Dural deal (story continues below).
Living Choice co-owner Ian Tregoning added the proposed dwellings will be premium quality.
The company also controls assets in Queensland, on the Gold Coast and Sunshine Coast, and at Adelaide’s Flagstaff Hill, Fullarton and Woodcroft.
Last week we reported the NSW government was seeking developers to replace the ex-Manly Hospital, which has been rezoned to allow for aged care.
Earlier this month Regis outlaid $14.15m for a Belrose site permit-ready for a 100-room facility with a 25-bed dementia ward.
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