Catholic Healthcare Snaps Up Prime Maroubra Club

The 10,850 square metre site on which Sydney’s Maroubra RSL Memorial Bowling Club sits has been purchased by Catholic Healthcare for $28.5 million. It is approximately 280 metres from Maroubra Beach.

The deal follows an Expressions of Interest campaign run by JLL’s Head of Metropolitan Sales and Investments – NSW, Sam Brewer and Director, Leslie Cheng, on behalf of the vendor, the Maroubra RSL Sub-Branch.

Mr Brewer said, “This site generated a significant response from the market with over 250 enquiries and 40 offers made, which is a record in the level of demand we’ve seen for any property. We received interest from local residential developers, education businesses and aged care providers. The size of the site and the attractive Eastern Suburbs location, which was strengthened by an undersupply of comparable opportunities in the market, reinforced just how unique this offering was for purchasers.

“Development sites across Sydney’s metropolitan market remain in demand and the sale underpins the continued strong interest in quality assets in locations such as the City Fringe, Eastern Suburbs and lower North Shore,” Mr Brewer said.

Mr Cheng said, “This site’s location, approximately 280 metres from Maroubra Beach, and three street frontage was a key factor of interest for the market. Buyers also saw value in the number of local amenities nearby which include Westfield shopping centres at Bondi Junction and Eastgardens, golf courses and a number of cafes and restaurants.”

Catholic Healthcare’s General Manager Property Michael Lockwood said, “Catholic Healthcare are extremely excited about the purchase of this unique Sydney site. Our vision is to create a community focused integrated aged, retirement and community care precinct with numerous opportunities to provide care for the growing ageing population of Sydney’s Eastern Suburbs."