A rare opportunity to acquire a modern hospital with vacant possession has been brought to market at 72 Phillip Street, Thirroul, offering buyers immediate operational capability or compelling repositioning potential in one of coastal New South Wales’ most desirable and tightly held locations.
CBRE’s Australian Healthcare & Social Infrastructure team of Sandro Peluso, Marcello Caspani-Muto and Alex Mirzaian are marketing the opportunity which comprises a substantial 7,500+sqm coastal landholding improved by a high-quality healthcare facility of approximately 4,000sqm, last operated in early 2026 as a private rehabilitation and mental health hospital.
Unlike many legacy healthcare assets, the improvements at 72 Phillip Street remain highly relevant to contemporary healthcare, seniors living and accommodation uses, significantly reducing capital expenditure requirements for incoming owners across various uses like healthcare, seniors living, accommodation, NDIS housing and more.
The facility features a series of single rooms with private ensuites, hospital-grade lifts, multiple operational wings, dedicated clinical and staff areas, and extensive communal amenities — including an on-site gymnasium and swimming pool, supporting rehabilitation, wellness and lifestyle-based service models.
Mr Peluso said the combination of modern improvements and coastal land value should resonating strongly with the market. “It is rare to see a healthcare facility of this scale, quality and immediacy offered vacant in a premium coastal suburb, buyers recognise that much of the value is already embedded in the building — not just the land — which materially changes feasibility outcomes for a wide range of uses.”
Mr Caspani-Muto said the quality and condition of the existing improvements set the property apart. “This is not a redundant or obsolete hospital building, the asset has been fully maintained to high standards and provides a modern built form that can be reactivated almost immediately for healthcare, seniors living, supported accommodation or wellness users, subject to approvals.”
The property is offered with vacant possession, enabling owner-occupiers, operators and investors to move quickly — whether through immediate reuse, reconfiguration or longer-term strategic redevelopment. The property is located near Wollongong Healthcare and Lifestyle Amenity and is only 13km north of the town centre. Thirroul forms part of the Illawarra’s most sought-after coastal
catchments, benefitting from strong demographic fundamentals, affluence, and proximity to major healthcare infrastructure.
The site is also within a short drive of Bulli Hospital, Coledale Hospital, and the region’s major tertiary provider, Wollongong Hospital, as well as both public and private specialist facilities — reinforcing its appeal to healthcare and seniors living operators targeting established catchments.
Beyond its healthcare credentials, the location offers an exceptional lifestyle proposition, with direct access to village retail, transport links, Thirroul Railway Station, coastal beaches and the Princes Highway, providing seamless connectivity to Sydney and the broader Illawarra region.
Mr Peluso concluded with strong appeal across healthcare seniors living and accommodation sectors combined with a surrounding population characterised by high household incomes and a meaningful seniors demographic, the property is expected to attract interest from domestic and offshore investors, healthcare groups, retirement living operators and specialist accommodation providers.
The Expressions of Interest campaign is expected to launch within a week and conclude in mid-June.
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