Melbourne, 30 October 2013 – The Caulfield Manor aged care facility in Caulfield has been listed for sale, providing an opportunity to acquire a securely leased asset in one of Melbourne’s most sought after precincts.
Jamus Campbell and Josh Rutman of CBRE have been appointed to market the 1019 Glen Huntly Road property, which is currently operating as a 31 bed facility catering for low care residents.
The double-storey building is currently 100% leased, returning $345,248 per annum (+GST) with built in rental growth through fixed 3% annual increases. The property is underpinned by a fantastic land holding of 1,156sqm and also offers significant depreciation benefits.
Mr Campbell said the property’s inner city location would be a key draw card, with the facility situated just 5 kilometres from the Melbourne CBD.
“The property is well serviced by local amenity including Glen Huntly village, Caulfield village and numerous other small retail strips,” Mr Campbell said.
“It also benefits from a secure 10+10+10 lease agreement to Capwood Pty Ltd.”
Caulfield Manor specialises in providing a wide range of services to senior citizens who require assistance with their daily living. Residents pay a monthly rental that includes hotel style serviced accommodation, nutritious and balanced meals, serviced rooms including personal laundry and all personal care services by a qualified and trained team on-call twenty four hours a day.
“The implications of the rapid change in Australia’s age profile are wide ranging and will impact all facets of the aged care industry over the short, medium and long term,” Mr Rutman said.
“Australia’s aged care system will come under increasing pressure as a result of the ageing population and growing care demands among older people. It is anticipated that the increase in Australia’s ageing population will place further demand for low care services from aged care facilities such as Caulfield Manor.”
Expressions of Interest campaign close 5.00pm 12th November, 2013.
For further information:
Jamus Campbell Josh Rutman
+61 478 672 448 +61 411 273 746
jamus.campbell@cbre.com josh.rutman@cbre.com.au
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