Located at 2 Tessa Street, the previously fully licensed residential aged care facility sits on a 1,574sq m* site and is positioned amongst some of Sydney’s most desired residential properties, in one of the affluent municipalities in Sydney.

This multicultural and vibrant location offers major retail shopping, healthcare and educational amenities, major institutional facilities including office and retail as well as some of Sydney’s most prestigious residential homes. just moments away. The property is positioned on 1,574sq m of land on the corner of Tessa and View Street in close proximity to all major arterials and amenity.

For sale through Nick Lower and Selin Ince of Savills Metropolitan & Regional Sales along with Hugh McFarland of Raine & Horne Chatswood, the site has R2 Low Density Residential zoning, FSR: 0.4:1 and 8 metre Building height, on-street parking and numerous off-street carparking spaces at rear and significant renovation options or full redevelopment potential (STCA)

According to Nick Lower of Savills Australia, 2 Tessa Street should be of appeal to many astute investors, aged care providers and residential property owners and/or developers, as the healthcare sector is an investment class with a long running history of profitability.

“The steady stream of demand for healthcare services has remained relatively stable over the past two decades, even during the outbreak of COVID-19.

“Contrastingly, other investment classes have experienced exposure to the volatility of global issues & trends and subsequently have resulted in less desirable returns. Over 2020, healthcare real estate emerged as a standout sector, outperforming core asset classes such as office and retail” he said.

According to Hugh Macfarlan of Raine & Horne Chatswood, the Australian Government has made it clear that they intend to improve the standards, services and level of affordability within the aged care sector.

“In 2012 the Living Longer Living Better (LLLB) reforms concluded that increased support needed to be made for a Consumer Demand-Driven System which focusses on affordability of aged care services and improving the services across the sector.

“The Royal Commission is looking into the quality and safety of residential and in-home aged care which highlights that improving this sector is a priority across Australia”.

2 Tessa Street, Chatswood is for sale via an in-room auction sales campaign.