Palaszczuk government buys vacant aged care homes
The Department of Housing and Human Services has snapped up two ex-nursing homes to repurpose for social housing.
In the biggest deal, it is paying $10.6 million for the former Freedom Bridge Street, at 279 Bridge Street, Newtown – three kilometres west of central Toowoomba.
On 6216 square metres with 18 car parks, the complex contains 58 rooms and resident-only amenity including a cinema, hair salons, and living/dining areas.
The shell will be redesigned to house 50 residents.
Meanwhile in Brisbane’s inner north, the department is outlaying $9.4m for the ex-Freedom Clayfield at 51 Norman Parade (pictured, top) – set to house another 30.
CBRE Healthcare and Social Infrastructure’s Marcello Caspani-Muto, Will Carman, Sandro Peluso and Jimmy Tat represented the vendor, Aveo.
“The popularity of vacant retirement and aged care assets is comfortably at record levels,” Mr Caspani-Muto said,
“Broader challenges with rising construction costs across the commercial and residential markets, have acted as a catalyst for demand in this sector,” he added.
“With development risk and construction costs at an all time high securing large landholdings with significant existing improvements is highly compelling,” according to the agent (story continues below).
“We are seeing a steady increase in the number of tenants and owner occupiers entering the space through creative conversations to aged care, healthcare, NDIS and accommodation uses”.
Waiting list time blown out
The waiting list for social housing in Toowoomba is two years – a rise of about eight months on its 2017 level.
“Our holistic approach means we are not just providing housing assistance but also connecting people to support from a range of government and non-government agencies that are specific to their individual needs,” housing minister Leeanne Enoch said.
Elsewhere in Queensland, last month, we reported Australian Unity won permission to develop an aged care and independent retirement living unit at Brisbane’s Auchenflower.
HMC Capital, meanwhile, acquired the city’s Sunnybank Private and Pine Rivers Hospital in Strathpine.
A day hospital recently vacated by cosmetic surgeon Daniel Lanzer also hit the market for lease – the former Salisbury Day Surgery – in Brisbane’s south.
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