Hospital car park making $3.55m a year hits the market
A Sydney hospital car park raking in more than $3.5 million a year has hit the market in a “rare” opportunity for buyers.
The Northern Beaches Hospital car park, which offers 1389 controlled bays for hospital patients, visitors and staff, is looking for a new owner.
The expressions of interest campaign, run by Colliers agents Matthew Meynell and Catherine Scott, pitches the Frenchs Forest site as a chance to “acquire a critical healthcare infrastructure asset embedded within one of Sydney’s most significant and growing health precincts”.
However, unlike most commercial sites, its customers have little choice about why they are there.
Patients and visitors currently pay $7.80 to park for between 15 minutes and one hour, rising to $11.60 for up to two hours and $23.30 for five hours or more. Only the first 15 minutes are free.
Concessional rates are available for eligible patients and carers, including patients receiving ongoing cancer treatment, people attending hospital more than twice a week, some concession card holders and people experiencing financial hardship.
The car park generated about $3.55 million in revenue during the 2025 financial year, according to the listing.
Sitting alongside the 494-bed Northern Beaches Hospital, the multi-level car park that was built in 2018 operates around the clock and services over 2,000 patients, staff and visitors each day.
Rather than selling the car park outright, buyers are being offered a 32-year leasehold interest, with the operating tenure running until October 2058.
Under an agreement with NSW Health, it will have to remain accessible to hospital patients, staff and visitors, while also ensuring parking fees are in accordance with the NSW Health Hospital Car Parking Fees Policy.
Staff will also continue to receive discounted parking and eligible patients and visitors will still have access to concessional rates.
Northern Beaches Hospital services a catchment zone of more than 270,000 people and attracts an estimated 730,000 visits each year, while more than 1,900 staff work at the facility.
“The asset delivers resilient long-term cashflow underpinned by essential healthcare demand, a substantial and affluent catchment, and a long-dated operating tenure to 2058,” the listing reads.
Expressions of interest close at noon on September 24.
