286-296 Melbourne Road Newport VIC 3015

CBRE Australian Healthcare & Social Infrastructure is delighted to offer for sale 286-296 Melbourne Road, Newport A former Residential Aged Care Home with 37 rooms and surplus adjoining residential holdings across three (3) titles allowing immediate occupation, renovation, expansion or a mixed-use outcome.

With dual street frontage, access to the property is possible via both Melbourne Road and Franklin Street with the Douglas Parade retail village located within walking distance (>1km*).

The Asset is offered for sale via International Expressions of Interest closing Thursday 21st November 2024 at 2:00pm* (AEDT).

+Valuable existing single-level improvements featuring 37 rooms and oversized communal spaces and courtyard

+High exposure landholding of 3,178sqm* with dual access points to Melbourne Road and Franklin Street - combined street frontage of 150m*

+Three (3) individual titles, all zoned General Residential Zoning allowing multiple potential outcomes (STCA)

+Existing building area of 1,060 sqm* (RACF only) with a projected fully leased income of $325,000 - $400,000 p.a and ample on-site parking plus surrounding all-day street options

+Suited to a variety of end users including Aged Care, Hospital, Childcare, Rehab, land-banking, Supported Residential Services, Specialist Disability Accommodation, and more (STCA)

LOCATION

+ Bordering the Williamstown and Newport activity and retail centre walking distance to top performing Coles Supermarket and surrounded by national retailers including CBA, NAB, Priceline, Telstra and Australia Post

+Circa 1.0km* to Williamstown foreshore and 600m* from Newport Train Station catering to a wide reaching and established residential catchment area

+High exposure location with over 23,000* vehicles passing daily (Melbourne Road)

+Proven historical growth location with Newport's median house price having increased circa 68%* Since 2015 with a median house price of $1,240,000 (Sept-24)

For further information, please contact the exclusive sales and marketing agents:

Marcello Caspani-Muto
+61 417 065 777

Sandro Peluso
+61 418 389 757

Jimmy Tat
+61 439 399 118

approx*