Hospital site sale doubles developerâs money in two years
Save
Share
Melbourne developer Hamton has doubled its money on a private hospital site it acquired two years ago from Healthscope, after selling it to Centuria Healthcare for $20 million.
The Cotham Road hospital in Melbourneâs Kew has been acquired by Centuria Healthcare. Â
In the interim, while development plans were lodged with the local council, it was leased to hospital group Epworth Healthcare on a three-year term.
However, despite securing a permit for a four-level luxury apartment development last year with plans to launch the project this year, the unsolicited offer presented by Centuria Healthcare was âtoo compelling to refuseâ, Mr Hameister said.
Just how much time do our councillors spend doing actual council stuff?
Back in the day it was pretty common, especially in country areas, to see local representatives balance what you might call “a day job” with their civic duties.
I would almost go as far to say that it was encouraged – that people trusted mayors and councillors who also had a local business, or who were invested in the local region through work.
But times they change. Councillors get paid a lot of money now, by most people’s standards.
Even today, $120 grand a year is good money – certainly nothing to be sneezed at – and I can understand why voters expect more from councillors as a result.
Premium Content
Subscriber only
EXCITEMENT is building with the former Masters store in Springfield, which has sat unused for five years, set to finally be resurrected.
The three-hectare site is owned by property group Home Consortium, which acquired the assets of Masters Home Improvement in 2016 when it was shut down.
The delay in redeveloping the site could be put down to a legal battle with a rival shopping centre in the area.
The building will undergo an âextensive redesignâ according to the Greater Springfield Facebook page. The Masters site was taken over by Home Consortium in 2016.
âGreater Springfieldâs HomeCo will cater to a wide range of home design and decorating needs, as well as a mix of national lifestyle and service brands,â it states.
HomeCo ramps up funds management Property group Home Consortium is stepping up efforts to become a funds manager capitalising on daily shopping and medical needs.
Business by Ben Wilmot
Premium Content
Subscriber only Property group Home Consortium, once known for converting former Masters stores into shopping outlets, is stepping up efforts to become a funds manager capitalising on daily shopping and medical needs. The company spun off a supermarket owning trust last year and when releasing its half year results on Wednesday flagged that it hopes to eventually grow its medical fund holdings to $2bn. To get there it will spin off a trust of medical and government assets that could amount to about $500m, with HomeCo running a dual track process that could see either a float or an unlisted fund being created.