Lane Cove retirement village for sale

Caroline Chisholm Retirement Village in Sydney’s north shore has gone into administration and is listed for sale.

The Lane Cove property is a 52-bed facility, privately run as a not for profit village.

However, in what one source has described as an increasingly common story, the village is now in the hands of administrators, PPB Advisory.

A representative from the advisory said it took over trading the village in September last year to deliver services to the residents, and in February it began a campaign to sell the premises.

The campaign was extended to 27 April and has received 110 expressions of interest from a range of parties including other retirement village operators and residential care providers.

It is understood the original prices set by the village operator have not been enough to cover its costs and operations in recent years.

In its listing on the property is described as “a rare opportunity to purchase a versatile land holding set across two land parcels, situated within the tightly held and exclusive lower North Shore suburb of Lane Cove.”

It spans 4,494m2 of floor space but has no onsite parking.

The sale is by International Expressions of Interest, closing at 2pm (AEST), Thursday 27 April 2017.

All enquiries about this property should be directed to Colliers International.



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