Rare Opportunity to Transform Landmark Ivanhoe Site | JLL

Significant landholding with historic charm offers multiple development pathways in tightly held suburb

JLL’s Capital Markets team has launched an International Expressions of Interest campaign for a former hospital and landmark Ivanhoe property, offering an exceptionally rare opportunity to secure a substantial landholding in one of Melbourne’s most tightly held residential enclaves.

Located at 134-146 Ford Street, the expansive 7,272 sqm site sits in the heart of Ivanhoe and is home to the historic Ivanhoe Manor — a 19th-century, two-story villa originally built by prominent local figure, Alfred Ford.

JLL’s Jesse Radisich, Josh Rutman, Mark Stafford and Mingxuan Li have been exclusively appointed to sell the site in conjunction with the transaction manager, Dan Magree of Magree Property Advisory.

“It’s not often you get the chance to reimagine a site of this scale in such a tightly held residential precinct,” said Mr Radisich.

“The combination of scale, location and two prominent street frontages makes this a standout opportunity in today’s market.”

“Whether a buyer is seeking to revitalise the existing facility or unlock a medium-density residential precinct, the property is supported by strong underlying fundamentals,” he added.

The site is zoned General Residential with dual street frontages to Ford and Green Street and is currently home to a vacant 46-bed private former rehabilitation hospital, featuring consulting and therapy rooms, hydrotherapy pool, commercial kitchen, and 16 on-site car parks.

Mr Rutman said the property lends itself to a variety of future uses, subject to council approval.

“Potential redevelopment outcomes include luxury apartments or townhomes, high-end residential housing, aged care or retirement living, or a state-of-the-art medical or mental health facility,” he said.

“The location, combined with the site’s development versatility, will appeal to a wide range of buyers. Ivanhoe is one of Melbourne’s most sought-after residential locations, offering leafy surrounds and heritage homes. The site’s proximity to quality schools, retail, parkland, and medical infrastructure adds to its appeal.”

Mr Stafford, from JLL’s Alternative Investments team, noted the strong appeal to the healthcare sector.

“With much of the hard infrastructure already in place, this presents a compelling opportunity for providers looking to minimise construction costs while delivering critical community services,” he said.

“As construction costs continue to rise, well-located conversion opportunities like this are becoming increasingly attractive for healthcare, rehabilitation, mental health, and aged care operators.”

Positioned just 7.3km from Melbourne’s CBD, the site is surrounded by elite schools including Ivanhoe Grammar and Ivanhoe Girls’ Grammar, Austin Hospital, Ivanhoe Shopping Centre, and scenic parklands including the Darebin Creek Trail. It also benefits from excellent public transport connectivity.

134-146 Ford Street, Ivanhoe is being offered for sale via International Expressions of Interest, closing Tuesday 10 June at 2:00pm AEST.