The property is improved with a functioning hospital, which offers a short-term lease to Cavalry. However, Mr Peluso noted that Cavalry has recently invested significant capital to repurpose the property to suit the group’s current needs.
“The improvements are substantial and offer the potential for a hospital operator to buy and occupy, or an investor to either extend the current lease or find a new tenant,” Mr Peluso said.
The facility has a building area of approximately 3,500sqm and originally offered 73 registered beds before Calvary re-positioned the property.
It is situated on a major site area of 4,765sqm, which would also suit a townhouse or aged care development, subject to the relevant planning approvals.
“The property is only 500m to the beach and in an established residential location, making it a highly appealing development proposition,” Mr White said.
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