A 5,345sqm residential facility at 405-413 Upper Heidelberg Road, Ivanhoe, headlined the sales at $8.62m, sold by BlueCross Aged Care to an international healthcare and residential services provider.
Clinics at 390 Bay Street, Brighton, and 338 Dandenong Road, St Kilda East, also changed hands, purchased by a local vet and GP respectively.
Each property was purchased by an owner occupier with plans for immediate occupation, or future occupation pending minor refurbishment and repositioning works.
One of the most talked about vacant healthcare opportunities of the past 12 months, the Warburton Hospital has also entered due diligence with the team.
“Quality owner occupier and investment opportunities within metro Melbourne, particularly the eastern region are few and far between, so when properties like these three come to market they’re hotly contested,” Mr Twelftree said.
“All three were transacted at a price comfortably above reserve, which is a testament to that demand.”
The Ivanhoe and St Kilda East assets were transacted via Expressions of Interest campaigns, while the Brighton property was sold one day before its scheduled auction, following strong and contested early interest.
“Healthcare investments have traditionally been very popular among investors, and this is increasing at a rapid rate, but vacant properties suited to medical use or with an existing permit remained more of a niche,” Caspani-Muto added.
“However the strength of our country’s healthcare market over the past 12 months has really fuelled demand for these vacant properties in 2021, with interest levels as high as our team has seen in the past five years.”
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