Hall & Prior JV shells out $13 million for heritage-listed Perth hospital: Savills

Hall & Prior JV shells out $13 million for heritage-listed Perth hospital: Savills
Hall & Prior JV shells out $13 million for heritage-listed Perth hospital: Savills

A leading Perth-based aged care organisation, Hall & Prior, and a local superannuation fund have jointly paid $13 million for the heritage-listed former Woodside Maternity Hospital in Perth’s East Fremantle.

The joint venture aims to develop and repurpose the 18 Dalgety Street property into a world-class aged care facility to serve the Fremantle community. 

Woodside House, comprising 1979 sqm of buildings, sits on a 10,000 sqm site overlooking the Fremantle Port and Town Centre. It was constructed in 1902 and is a classic example of Victorian Italianate architecture.

The hospital belonged to the WA Department of Health.

The deal was negotiated by Savills’ Barney Dear and and Chas Moore.

Hall & Prior CEO Graeme Prior said the project would be a foundation asset for the joint venture. The development will be in addition to Hall & Prior’s current infrastructure development programme set to deliver 400 beds across three facilities in Western Australia and New South Wales, worth over $160 million.

It is one of the WA’s largest providers of care for supported and financially disadvantaged Western Australians. 

In WA, the company cares for almost 2,000 people across 14 residential aged care homes and two home care services, predominantly in metropolitan Perth. Nationally, Hall & Prior operates over 1,500 beds across 25 residential aged care homes in Western Australia and New South Wales, employing over 2,000 staff. 

“This is an exceptional result for a building that has played a very important part in providing care for the Fremantle and surrounds community for nearly 100 years. The purchaser’s proposed use will continue that service to the community,” Savills’ Dear said. 

Hall & Prior JV shells out  million for heritage-listed Perth hospital: Savills

Moore added that Perth’s property market is currently in a post-mining investment boom transition that offers opportunities for investors and developers.

“The sort of robust level of enquiry we had for this property illustrated just how seriously the investment and development community has recognized, and in this instance, grasped that opportunity,’’ Moore said.   

 

Tags: 
Perth Commercial Property

Comments

Be the first one to comment on this article
What would you like to say about this project?