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Property Sales

Super multi-level medical centre listing to attract mass investor attention

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A high-profile healthcare precinct with a diverse tenancy mix of over 12 businesses is poised to hit the market, with price expectations set to exceed $4,500,000 

The investment, which offers the incoming owners substantial upside, is being marketed by CBRE Healthcare & Social Infrastructure agents Sandro Peluso, Josh Twelftree, Marcello Caspani-Muto and Jimmy Tat. 

Located at 169-171 Stud Road, Wantirna, the property is moments from Knox Private Hospital, the largest private Hospital in East Victoria – providing healthcare services to over 1.2 million people, which equates to circa 25% of Victoria's population. The sale represents the CBRE team’s second within the Wantirna health precinct in the past two months, with the group selling 230 Mountain Highway in August for north of $4,000,000, translating to a 4.6% yield.

The team has seen significant demand for healthcare assets across all price points in 2020, as an increasing number of investors seek “essential service investments”. 

“This property is positioned within a price point that’s accessible to mum and dad investors, high-net-worth privates and healthcare REITs alike, in addition to Self-Managed Super Funds,” Mr Peluso said. 

“A lot of investors are pulling money out of super and establishing SMSFs to invest in commercial property, providing a greater and more reliable return than those funds that are exposed heavily to equity markets,” he continued. “Proximity to hospitals is another draw card for many investors, as this provides a steady stream of referral business – giving investors comfort around the tenancy mix and its longevity.”

Mr Tat added; “We are seeing a lot of investors gravitate towards the healthcare asset class, seeking security in a somewhat recession proof sector. While this property provides this, there is also the substantial potential for significant rent reversion and upside in filling the last remaining vacancies available.” “The facility itself is very impressive and features an incredibly rare uncapped practitioner limit, we forecast potential market income to be north of $450,000,” Mr Tat said. 

The subject property features of 1,600sqm of gross building area across four storeys and a passing income of $225,000 per annum. 

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