James Packer majority share consortium to redevelop in Balwyn

10 April 2024

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


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”.