The appetite for quality healthcare investment shows no sign of abating, with three properties recently sold at auction.
284 Station Street, Lalor sold for $2.11 million on a 5.33% yield. The freestanding two-storey corner retail/medical investment sits on 256sqm Commercial 1 zoned land with a 444sqm building area. The property is leased to MIA Radiology.
Unit 2, 25 Grimshaw Street, Greensborough sold for $3.225 million on a 5.65% yield. The double storey fully-fitted specialised medical investment has a 534sqm building area on an 813sqm site. The property is also 100% leased to MIA Radiology.
6 Overton Road, Frankston sold for $1.4 million on a 5.35% yield. The multi-frontage land holding of 628sqm is leased to Signature Smile Studio, a strong trading and well established dental operator, on a new 10+5+5 year lease.
Mr Peluso said all the sites sold for strong prices at between 25% and 31% above reserve.
“Investor appetite for well-located medical investment properties is as robust as ever, with an increasing number of local and off-shore investors appreciating the combination of fundamental investment attributes available within this booming sector of the market,” Mr Peluso said.
“Non-discretionary health care assets remain high on a broad range of investor wish lists as demonstrated by the sector’s strong activity this year,” Mr Twelftree added.
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