A New Farm aged care centre, which is set to make way for luxury apartments, has sold for more than $37 million.

The 5727-square-metre Ozcare facility at 424 Bowen Terrace will be demolished and redeveloped by Sydney company Fortis, which plans to build 74 units and four freestanding homes on the site.

The development application also includes a basement car park and central courtyard, with gardens, a pool and spa.

Digital renders of the development plans for 424 Bowen Terrace in New Farm. Credit: Development application

“This is a major opportunity to create something truly exceptional in Brisbane’s most prestigious suburb,” agent Brendan Hogan said in a statement.

The aged care centre was closed by Ozcare after more than 30 years of operation.

Real estate service company Collie

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