The old Masterton hospital site is to be sold within the next few months but local property experts are unsure what it is worth or even if there would be much interest.
The 17ha property, behind the new hospital on Te Ore Ore Road, is to be passed on to the
Crown Health Financing Agency to sell on the board's behalf, Wairarapa District Health Board chief executive David Meates said yesterday.
The agency assists DHBs in disposing of surplus properties to free funds for reinvestment.
As the property has been decommissioned it has no rateable value and valuers are reluctant to speculate what it would sell for.
A commercial real estate agent, who asked not to be named, said the property would probably have to be sold by tender or auction.
"It would be very, very hard to put a value on it."
Bayleys Masterton commercial property agent John Dyhrberg said he thought the old hospital would be a valuable property but he did not believe there would be a lot of interest in it.
"I think it would have an appeal to a very specialist market.
"The cost of getting the buildings demolished would make it quite expensive for developers."
The site consists of nine buildings, including the three-storey main hospital, the old maternity ward, maintenance and laundry.
Suggestions for redevelopment have included an age-care facility, however Mr Meates said the buildings could end up being pulled down.
"It's really up to whoever buys it.
"There are a number of very good buildings there."
The hospital was closed in 2006 when it became apparent the DHB would have to spend up to $20 million upgrading over the next 20 years, in order to meet minimum legal and operational requirements.
The area is an urban residential zone and resource consent would be required for alternative development.
Mr Meates is confident the financing agency will manage the transaction to the board's advantage.
"We're hoping for the best price possible."
He said the financing agency would market the property and ensure any possible treaty issues were addressed before the sale.
"At this stage we do not envisage any problems."
The old Masterton hospital site is to be sold within the next few months but local property experts are unsure what it is worth or even if there would be much interest.
The 17ha property, behind the new hospital on Te Ore Ore Road, is to be passed on to the
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