A St Ives aged care site has been sold to Thompson Health Care owners following the successful appeal at the Land & Environment Court by Arcare for approval of a 125 bed facility on the site.
Seven properties including a childcare centre will be demolished to make way for the three-storey $30 million development in St Ives, 18km north of the Sydney CBD.
Arcare and the Ku-ring-gai Council went into mediation after the Council failed to make a ruling on the application within the deemed refusal period and the provider took the case to the court in 2019.
Land and Environment Court commissioner Susan Dixon approved the project on 124 conditions – including that the developer pay the Council $1.14 million in “developer contributions” towards recreational facilities in the council region, reduce the number of beds in the facility from 130 to 125 and reducing the overall height of the facility.
Thompson Health Care paid $23.1m for the site, which settled on the 15th January 2021. On the basis of the DA approval, Thompson Health Care have paid $184,800 per bed for the site.
The St Ives site is not the first for Thompson Health Care. The Group are also developing a 99 Bed aged care facility at 50 Cowan Street St Ives, which was also approved on appeal at the Land & Environment Court.
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