Moran Health Care Group has announced that it has re-entered the aged care sector within the Hunter following the purchase of Presbyterian Aged Care NSW and ACT's Wescott residential aged care facility in Stockton.
The Moran family previously held aged care facilities in Mount Hutton, Port Stephens and Raymond Terrace before selling part of the portfolio to AMP.
Presbyterian Aged Care NSW and ACT engaged Shane Nicholson from Commercial Collective to take the Stockton facility to the market via an off-market expression of interest campaign.
"With the large growth in aged care requirements in the Newcastle and Hunter region, the quality facility was highly sought after with Moran Health Care Group being the successful purchaser," Mr Nicholson said.
The net price for the sale was $10.55 million.
This 122-bed facility recently underwent a multimillion-dollar refurbishment.
Mr Nicholson said the facility would now be known as Moran Stockton.
The name Wescott was previously held by the facility in honour of Eric Scott who provided the funds necessary to purchase the property.
Mr Scott owned Scott's Department Store, later to become David Jones Hunter Street which as since been repurposed as the QT Hotel, and was concerned at the lack of accommodation for aged people around Newcastle.
The facility was named Wescott in memory of his parents William and Edith Scott. It was passed on to The Church of England and eventually over to Presbyterian Aged Care NSW and ACT.
