Healthy investment

PROPERTY syndicator Glenmont Properties has confirmed it is in negotiations to purchase private psychiatric clinic Perth Clinic.

The 56-bed hospital located at 29 Havelock Street in West Perth provides acute psychiatric care and day-patient services.

Perth Clinic is jointly owned by WA businessmen Timothy Clarke, Dennis Tannenbaum and Trevor Blythe.

Mr Blythe is also a director of Perth Clinic alongside David Wee.

Although it is understood Glenmont Properties has agreed on a range of terms, it appears that any final agreement is still some way off.

Glenmont Properties managing director Simon Toovey said the deal was not yet finalised.

“There are still a couple of issues,” Mr Toovey said.

“It’s just early negotiations at this stage.”

Perth Clinic directors were unwilling to make any comment on the sale.

The hospital is one of three different WA private hospitals currently seeking buyers.

Cambridge Private Hospital in Wembley and Stirling Community Hospital in Yokine are for sale.

Each have $5 million price tags attached.

Realty Executives selling agent Matt Johnstone-Summers said the hospital properties had attracted a lot of interest.

“A couple of different people are looking at redeveloping the sites,” Mr Johnstone-Summers said.

“A consortium of doctors is looking at developing doctors’ rooms.

But it is not a straight forward process if the buyers wish to operate either site as a hospital.

Mr Johnstone-Summers said the buyers would have to re-apply for bed licences to use them as hospitals.

Glenmont Properties most recently acquired Energy House in Darwin from Macquarie Office Trust for $14.25 million.

The seven-storey property with 7,467 square metres of lettable office space and 1,236 square metres of retail space is predominantly leased by the Northern Territory Government.

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