Melbourne

Blue chip SRS facility hits the market after two decades

The 2,025sqm corner landholding at 603-605 Riversdale Road, Camberwell is being offered for sale with vacant possession, offering prospective purchasers immediate renovation, extension or development potential.

08 Aug 2018

An established supported residential services (SRS) facility in Melbourne’s inner east is expected to generate significant enquiry when it hits the market for the first time in two decades. 

CBRE’s Sandro Peluso, Josh Twelftree and Jimmy Tat have been exclusively appointed to market Camberwell Manor, which has been operating as an aged care facility for almost 30 years and is licensed for 34 SRS beds. 

The 2,025sqm corner landholding at 603-605 Riversdale Road, Camberwell is being offered for sale with vacant possession, offering prospective purchasers immediate renovation, extension or development potential. 

Mr Peluso said the listing of Camberwell Manor would be extremely attractive to aged-care operators and investors, while the site’s development potential would also attract developers and land bankers. 

“Given the prestigious nature of the property we are expecting the campaign to attract interest from a range of buyers, including aged-care operators, investors and developers,” Mr Peluso said.

“Camberwell has always been a tightly held suburb and this, coupled with the size of the landholding and its significant exposure to multiple thoroughfares will make it extremely sought after.”

603-605 Riversdale Road was previously operated as a hospital and was completely renovated and repurposed to suit the demands of an aged care facility in 1995. The property features eight carparks on title and amenities inclusive of full commercial kitchen, garden and formal living and dining areas. It benefits from placement near key healthcare and retail facilities including The Well and Epworth Hospital. 

The property is being offered to market by way of a public Expressions of Interest campaign closing Wednesday, September 5, 2018 at 2pm.For Australian/international news or global stories, follow us on Twitter: @cbreaustralia

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.

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Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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 https://www.cbre.com.