Old hospital re-sells for 500 per cent profit

An old hospital site in southern New South Wales has sold for the second time in a year — for a 500 percent profit. The NSW health department sold the old Gundagai hospital in early 2015, after building an new hospital next door. Contracts have now settled for the old hospital’s next sale, to a Sydney doctor, for $650,000. NSW Upper House MP Mick Veitch, who was born in the old Gundagai hospital, was astounded when he heard the price. “Well, I’m gobsmacked. Congratulations to the person who bought it for $110,000 and was able to turn it around for…
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