_Former aged care centre on prime riverfront site in Brisbane’s Graceville up for sale

• A 2.48ha site at 19 Bell Terrace in Graceville is up for sale via an International Expressions of Interest campaign
• The property was home to a former aged care facility and retirement village known as Beth Eden, which has now closed
• It is being divested from Bethany Christian Care’s portfolio of assets after 19 years of ownership
• The centrepiece of the Graceville property is the heritage-listed Verney House
• The property is zoned Community facilities (Healthcare) and Character Residential and has the potential for residential, premium seniors living, or specialised healthcare STCA

Brisbane, Australia – A 2.48-hectare riverfront parcel of land in Brisbane’s inner southwest with a multitude of future use options is up for sale.

The property at 19 Bell Terrace in Graceville is occupied by a former aged care facility and retirement village known as Beth Eden, and is being divested from Bethany Christian Care’s portfolio of assets after 19 years of ownership.

Knight Frank have been appointed as the preferred agent to manage the sale campaign after a rigorous selection process, appointing Christian Sandstrom, Partner – Investment Sales, and Sam Biggins, National Head of Healthcare and Life Sciences.

The property will be taken to the market via an International Expressions of Interest campaign closing at 4pm (AEST) on Thursday, 27 July 2023.

The centrepiece of the Graceville property is the irreplaceable Verney House, a heritage-listed two-level former residence that was built in 1888 and has been converted to offices and aged care accommodation.

The site is also home to heritage listed stables, which formed part of the original construction alongside Verney house.

There are several other buildings on the site including independent living units and aged care accommodation, which have all been vacated by residents.

Mr Sandstrom said the property, which was currently zoned Community facilities (Healthcare) and Character Residential would appeal to a wide range of purchasers including residential developers and high net worth individuals looking to establish a family compound which could accommodate multiple generations.

“Land parcels of this size in an affluent and tightly-held residential precinct are very rare and seldom are offered to the market for sale,” he said.

“We anticipate strong interest in the truly generational opportunity, from local buyers to overseas expats.

“The site could be suitable for residential development, with the potential for the existing Verney House be extensively renovated to its former glory as a grand residence with direct frontage to the Brisbane River.”

Mr Biggins said: “With a median house price in the precinct of $1.8m-plus, the scale of the holding also lends itself well to redevelopment into premium seniors living, or repositioning of the existing improvements for use as a specialised allied or residential mental health facility.

“Given the scarcity of such a significant holding and diversity of potential future uses, we anticipate interest in the offering from a broad cross-section of potential purchasers.”

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For further information, please contact:

Vanessa De Groot – Marketing & Communications, Knight Frank
Vanessa.degroot@au.knightfrank.com +61 410 460211

Notes to Editors
Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank has more than 16,000 people operating from 384 offices across 51 territories. The Group advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants. For further information about the firm, please visit knightfrank.com.