Nursing home on Sims Avenue for sale at $27 mil

A nursing home located in Sims Avenue will be put up for auction on March 16th, with a guide price of $27 million. The property is a four-storey freehold detached building, sitting on a land area of 6,350 sq ft and with a total floor area of approximately 11,859 Senja Close EC sq ft. Zoned for health and medical care use under the 2019 URA Master Plan, the building is being operated by the owners as Charis Manor Nursing Home. According to Lock Sau Lai, senior manager, auction & sales at Knight Frank, the owners are looking to sell the property on a sale and leaseback agreement.

The building currently offers long-term stay, respite care and daycare services for the elderly, and features communal spaces on the first floor, wards and private rooms on the upper floors, and a rehabilitation centre and training rooms located in the basement. It also comes with a lift that services all floors and ample private parking lots. Moreover, the outdoor garden area provides further space for recreational activities.

Apart from Charis Manor, the owners also operate CSM Academy International, a private education institution specialising in healthcare services and caregiver training.

The property offers a number of attractions which include its great location – just off the exit of the Kallang-Paya Lebar Expressway, as well as its rare zoning. Lock Sau Lai believes it will garner interest from buyers within healthcare-related industries, such as medical companies, hospice or assisted living care providers, or other nursing home operators.

With a guide price of $2,278 psf, the property has great development potential for those in the healthcare industry. This presents a unique and attractive opportunity for those looking to acquire a nursing home for the purposes of operating a business in this sector.

Overall, this is a rare opportunity for those looking for a healthcare-related property to purchase a nursing home conveniently located near Sims Avenue.