A Sydney-based consortium of investors have purchased a 1,424sq m freehold Aged Care facility known as the Parkview Nursing Home at 29 Park Road, Five Dock for an undisclosed price.
The property is owner operated and has been operating as Parkview Nursing Home for over 20 years. The facility held 59 highly valuable bed licenses and sits on a dominant parcel of land totaling 1,550sq m, which resulted in a diverse pool of buyers for this asset ranging from aged care operators, developers and investors.
The deal was negotiated by Nick Lower, Ollie Ridley and Selin Ince of Savills Metropolitan & Regional Sales who acted on behalf of Rajiv Goyal of Wexted Advisors in the sale of the property.
Nick Lower, State Director - NSW, Metro & Regional Sales at Savills Australia said “After a highly competitive EOI campaign the eventual purchasers surpassed the offers presented by six other parties”
Ollie Ridley, Sales Executive, Metro & Regional Sales at Savills Australia said “29 Park Road provided prospective purchasers with a unique opportunity to acquire a fully licensed aged care facility with significant renovation options or full redevelopment potential.”