Former Tweed Uniting aged care block expected to sell for up to $6 million

With huge demand from developers for sites like this on the North Coast, it’s expected to draw plenty of interest from local and interstate buyers.

A prime piece of real estate has just hit the market and is expected to sell for up to $6 million.

The 8884 sqm site at 68-78 Keith Compton Drive, Tweed Heads, is located moments from the Tweed River and some of the most stunning beaches in Australia, as well the Tweed Hospital, Tweed Mall and popular Twin Towns and Tweed Heads Bowls Club.

The block was previously owned by Uniting and was run as an aged care facility however the building has been demolished.

Ray White Special Projects’ Matthew Fritzsche and Ray White Commercial Western Sydney’s Peter Vines, in conjunction with Shane Nicholson of Commercial Collective, have been appointed by the group to manage the sale.

“Uniting originally had an aged care facility on site with plans to redevelop, however they have prioritised plans for a co-located project in nearby Kingscliff that they are focusing on instead,” Mr Vines said.

Matthew Fritzsche said the market in this area had seen substantial growth over recent years, having recently completed a number of large scale development site transactions.

“This area is becoming increasingly sought-after by developers, wanting to capitalise on the migration away from major cities into coastal towns,” Mr Fritzsche said.

Mr Vines said that he expected the campaign to draw interest from both local and interstate developer groups.

“There is huge demand for sizeable land offerings from developers all over the coast at the moment, so we are expecting a robust campaign,” Mr Vines said.

“There is also strong demographic demand for more aged care and retirement product in the Tweed Heads region, we expect solid inquiry from seniors living operators,” Mr Nicholson said.

The property will be offered through an Expressions of Interest campaign, closing on August 26, 2021.