Coming Soon….Aged Care Sale

31 July 2021

One of Victoria’s most esteemed Aged Care Homes is poised to hit the market in the heart of Northcote only 5km* from the Melbourne CBD.

Being offered with vacant possession 14-24 Pearl Street, Northcote comprises a three level, 75 bed residential aged care home and sits upon one of the suburbs most substantial landholdings just shy of 3,000sqm.

The property is well renowned as being one of inner Melbourne’s most prestigious residences and sits almost directly off High Street. The opportunity is being marketed by CBRE’s Marcello Caspani-Muto, Sandro Peluso and Jimmy Tat.

Marcello Caspani-Muto said, “We expect this opportunity to generate interest from a number of buyer profiles given it’s location. An offering of this scale so close to the Melbourne CBD, particularly within a top 10 Victorian suburb like Northcote is incredibly rare.”

“The value within the existing improvements alone is substantial and for an incoming purchaser be it Aged Care, Healthcare or other who can utilize or reposition the building there is a real opportunity to acquire both land and building at below replacement cost.”

Jimmy Tat said “The property is positioned within one of the most desirable streets in Northcote – Pearl street is located only meters from High Street and it’s retail strip plus the tram stop taking you directly into the city. The benefit of the offset is there is substantial on-street and all day parking and reduced traffic noise. When you look at the drone shots it’s hard to believe an opportunity of such scale so close to the CBD is available.”

14-24 Pearl Street, Northcote is expected to publicly launch inside of 2 weeks and will be sold via expressions of interest closing in early September.