The development precinct set aside at Caringbah for high rise buildings with medical facilities at low levels and apartments above has caught the eye of retirement living and aged care providers.
Industry sources said the Mark Moran Group, which specialises in exclusive retirement and aged care developments, is believed to have acquired 10 properties in the precinct.
The precinct runs from the end of the shopping strip to Sutherland Hospital on the southern side of Kingsway.
Mark Moran and his wife Evette established the group bearing his name after he broke away from Moran Health Care Group, which was founded by his late billionaire father Doug.
The Mark Moran Group’s Vaucluse development won a prestigious international award for the best in the world for design in over-50s housing and architecture, while their Little Bay facility was recognised for aged care innovation and practice.
The 10 Caringbah properties the group is believed to have acquired are on Taren Point Road and in adjoining Hinkler Avenue.
Calls to the group from the Leader were not returned.
Meanwhile, expressions of interest have been called for another major development site in the precinct, and it is promoted as ideal for a “boutique” aged care facility.
The 2300 square metre site is an amalgamation of four old home sites at the corner of Kingsway and Hinkler Avenue, adjoining Sutherland Hospital.
Marketing agents Matrix Property Group and Colliers International predicted the land parcel would attract both aged care and residential developers.
Architectural plans for a “boutique aged care facility” with at least 72 beds have already been prepared by Marchese Partners, but would require council approval.
The agents emphasised the proximity to Sutherland Hospital and “an abundance” of other sought-after local aged care facilities.
Matrix Property Group principal Andrew Antonas said they were not alone in seeing the potential for aged care in the precinct.
“There is definitely something going on,” he said.
“The demand for state-of-the-art boutique aged care facilities in the shire is escalating as the population ages and existing facilities antiquate over time.
“The older generation wants to remain in the area and maintain engagement with family and the local community.”
Mr Antonas said Australian Bureau of Statistics figures showed 16 per cent of the shire’s population was over 65, and the proportion would progressively increase.
“This site offers a development opportunity that can satisfy a residential or medical use project or an aged care facility, however we urge prospective purchasers to make their own inquiries to council regarding either use,” he said.
The expressions of interest campaign closes on August 31.
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