Melbourne

Heritage healthcare investment opportunity in Melbourne CBD

A heritage investment neighboring St Vincent’s hospital has come to market with permit approval for up to seven-levels of partial re-development.

03 Sep 2019

A heritage investment neighboring St Vincent’s hospital has come to market with permit approval for up to seven-levels of partial re-development. 

The property located at 11 Brunswick Street, Fitzroy, immediately boarders St Vincent’s Hospital and is set to benefit from its $60 million redevelopment.

The opportunity is being marketed by CBRE’s Healthcare & Social Infrastructure and City Sales teams, including Josh Twelftree, Jimmy Tat, Sandro Peluso and David Minty.

Mr Twelftree said; “We are anticipating significant interest from a range of buyer profiles, however, most notably owner-occupiers with a medical focus.”

“Given the 11-level redevelopment of St Vincent’s, there is strong incentive for ancillary usage of the property.” 

Mr Tat added that the property was one of the most attractive in the CBD, featuring a standout heritage façade.

“Given the flexibility of the 7-level development approval behind the façade, we feel the opportunity will resonate with the international buyer market,” Mr Tat said.  

On offer with vacant possession, the site has long been occupied by Alcaston Gallery – one of Melbourne’s leading contemporary art galleries. 

Established in 1989, the Gallery features a national and international exhibition schedule and represents contemporary artists from Australia and the Asia Pacific Region.

11 Brunswick Street is being sold via an international Expressions of Interest campaign, closing on 26 September 2019. 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 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 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.