Jewish Care Victoria has moved to sell the former Mark & Dina Munzer Community Residential Aged Care facility in one of Melbourne’s most prestigious and tightly held suburbs, Caulfield North.
Gary Peer & Associate’s Phillip Kingston, Rafi Joffe and Todd Schulberg, conjunctionally with CBRE’s Josh Rutman, Mark Wizel and Julian White are handling the sale of the 52-58 Northcote Avenue property.
The 3,683sqm site, which has remained vacant since the aged care facility’s closure in March 2017, is located approximately 10km from the Melbourne CBD and within walking distance to Caulfield Park and local amenities.
The property is expected to attract the attention of local and overseas developers, aged care operators and not-for-profit and charitable organisations looking to establish new headquarters.
Jewish Care Victoria CEO Bill Appleby said the property did not align with the organisation’s recently released Strategic Plan, which would determine its key strategic priorities for 2018-2020.
“Following comprehensive analysis, we have determined that the property is surplus to both the short and long-term needs of Jewish Care Victoria, and selling the property is the most prudent course of action,” Mr Appleby said.
Gary Peer & Associates’ Philip Kingston said the former aged care facility was the most significant allotment the firm has handled for public sale.
“The property is more than double the size of any landholding in the notoriously quiet street, and more than 1,000sqm bigger than anything we have handled in the Caulfield precinct over the last five years,” Mr Kingston said.
The property benefits from proximity to the Caulfield Racecourse precinct, which is undergoing a $1 billion development that will deliver more than 1,500 apartments, retail, restaurants and lifestyle facilities.
CBRE’s Josh Rutman said the well-known property, which is being offered for sale with vacant possession, features all the amenities required of an aged care facility, including 45 beds, full line commercial kitchens and formal living and dining areas.
“The property’s significant existing improvements offer a turn-key solution to established residential aged care providers looking to expand their footprint in one of the most tightly held communities,” Mr Rutman said.
The property is being offered for sale via a Public Expressions of Interest campaign closing Wednesday 6th September 2018.
Gary Peer & Associate’s Phillip Kingston, Rafi Joffe and Todd Schulberg, conjunctionally with CBRE’s Josh Rutman, Mark Wizel and Julian White are handling the sale of the 52-58 Northcote Avenue property.
The 3,683sqm site, which has remained vacant since the aged care facility’s closure in March 2017, is located approximately 10km from the Melbourne CBD and within walking distance to Caulfield Park and local amenities.
The property is expected to attract the attention of local and overseas developers, aged care operators and not-for-profit and charitable organisations looking to establish new headquarters.
Jewish Care Victoria CEO Bill Appleby said the property did not align with the organisation’s recently released Strategic Plan, which would determine its key strategic priorities for 2018-2020.
“Following comprehensive analysis, we have determined that the property is surplus to both the short and long-term needs of Jewish Care Victoria, and selling the property is the most prudent course of action,” Mr Appleby said.
Gary Peer & Associates’ Philip Kingston said the former aged care facility was the most significant allotment the firm has handled for public sale.
“The property is more than double the size of any landholding in the notoriously quiet street, and more than 1,000sqm bigger than anything we have handled in the Caulfield precinct over the last five years,” Mr Kingston said.
The property benefits from proximity to the Caulfield Racecourse precinct, which is undergoing a $1 billion development that will deliver more than 1,500 apartments, retail, restaurants and lifestyle facilities.
CBRE’s Josh Rutman said the well-known property, which is being offered for sale with vacant possession, features all the amenities required of an aged care facility, including 45 beds, full line commercial kitchens and formal living and dining areas.
“The property’s significant existing improvements offer a turn-key solution to established residential aged care providers looking to expand their footprint in one of the most tightly held communities,” Mr Rutman said.
The property is being offered for sale via a Public Expressions of Interest campaign closing Wednesday 6th September 2018.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
