A Georgian Style former nursing home in Balwyn’s leafy Reid Estate has been secured by a consortium in a deal facilitated by NSL Property Group and CBRE.
The consortium with majority shareholder, James Packer, will be looking to redevelop the landmark former nursing home with an estimated budget of $32,000,000 into a 3-level complex with 31 oversized apartments and 74 car spaces. Aveo group were the previous owners of the Georgian Manor accommodating 77 residents.
Vendor: Aveo
Sale Details:
- Total Building Area: 3731 sqm
- Price $13,300,000
Agents:
Guy Naselli: Managing Director – NSL Property Group
Marcello Caspani Muto – Director CBRE
When contacted about the lease deal, NSL Property Group Managing Director, Guy Naselli said:
“The prime inner east location moments from the Eastern Fwy coupled with the potential to redevelop a landmark residence made this Balwyn property an ideal fit”.
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