Developer Sought to Deliver 4ha NSW Healthcare Precinct

(Picture: The Urban Developer)

The NSW government is on the hunt for a developer to help deliver a premium healthcare precinct across a 4.66ha hilltop site in north-east Sydney.

The site is home to the former Manly Hospital, which served as the local hospital from the 1930s up until its closure in October 2018, following the opening of the Northern Beaches Hospital.

In 2018, the state government announced Australia’s first hospice for young adults would be built on part of the site.

Since then, a project steering committee, comprising government, council and community representatives, has been investigating potential future uses for the remainder of the site, with a vision to create a “world class” healthcare precinct.

The state government has now turned to the private sector, calling for a development partner—with both development expertise and investment capital—to underpin the development’s delivery.

The state government, alongside Property and Development NSW, has enlisted Kelwyn Teo and Colin Stewart of CBRE’s Structured Transactions and Advisory team to steer the expressions of interest process.

Teo said he expected groups with a health or health-related platform to be attracted to the opportunity, particularly recognising the increasing capital allocation into this growth sector.

“This is one of the largest and most significant precinct development opportunities released to the market north of the Sydney Harbour Bridge,” he said.

“The site offers elevated harbour views and the scale of the offering provides a significant opportunity to plan and deliver a sustainable, integrated health and wellbeing centric precinct that celebrates the site’s location and heritage to meet the needs of the community.”

Read more at The Urban Developer.