The Franciscan Order of Friars Minor has pocketed practically $20m comply with the sale of a major seniors dwelling growth at Campbelltown.
The Catholic Church order based in 1209, bought the 6.6ha parcel at 192 Narellan Street close to the Hume Motorway to Uniting Care.
Property data present the title deeds formally modified palms on the finish of August for $18.755m.
Owned by the Uniting Church of Australia, Uniting Care will have the ability to capitalise of an accepted DA for a seniors dwelling web site that varieties a part of the Maryfields Property. The plans embrace a provision for as much as 500 seniors dwellings and an extra 200 aged care beds.
The Narellan Street landholding provides to the Uniting Church’s $1 billion plus property portfolio, which incorporates round 400 landholdings below its possession in NSW.
Colliers Worldwide head of well being retirement dwelling Shalain Singh, who bought the property with colleague Matthew Meynell, mentioned it was a robust expressions of curiosity marketing campaign, with Innova Capital taking part in a key position in getting the sale over the road.
“They have been in a position to liaise with the customer to develop a web site activation technique and in addition managed the location remediation works for the completion of sale,” he mentioned.
The Maryfields Property masterplan has additional developable land for makes use of together with enterprise precincts and residential subdivisions within the precinct, that’s being constructed as an important enterprise and wellness hub within the south west.
The location is positioned simply outdoors the Campbelltown CBD and is throughout the highway from a Western Sydney College campus.