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Wesley Mission Narrabeen

TRANSACTION: Expressions of Interest
LOCATION: 156 Ocean Street & 73-79 Lagoon Street, Narrabeen NSW
SOLD: 2024
PRICE: $34 Million

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Shane Nicholson managed the sale of Wesley Mission Narrabeen RAC & RV on behalf of Wesley Mission, to Retirement by Moran

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Aerial view of a residential area near a beach with houses, trees, a canal, and a sandy shoreline under a partly cloudy sky.
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Aerial view of a coastal city with a sandy beach on the left, and a river system with small islands and residential neighborhoods on the right, under a partly cloudy sky.
A two-story apartment building with large windows, surrounded by green trees and a well-maintained lawn. The sky is partly cloudy with blue and white clouds.
A brick pathway leads through a landscaped garden area with green bushes and mature trees, toward a brick pavilion with a sloped roof in a residential complex.
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THE ASSET

A 74-bed Residential Aged Care Facility fronting Ocean Street, offered with vacant possession, together with the western portion of the site comprising 24 Independent Living Units fronting Lagoon Street, which were subject to existing Deferred Management Agreements (DMFs), were sold as part of the transaction. The total combined site area was 9,234 sqm of prime Northern Beaches Real Estate.

THE PROCESS

Through a collaborative effort between Shane Nicholson and CBRE, this confidential off market EOI process showcased the benefits of our collaborative approach to sourcing qualified offers from across the Seniors Living and Residential Markets.

THE RESULT

The team successfully procured over 10 competitive offers, ultimately selecting the purchaser—Retirement by Moran, a premium retirement village operator backed by institutional investor Washington H. Soul Pattinson—with an established footprint across Sydney.

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