A fully leased North Melbourne medical centre is poised to capture the attention of healthcare investors when it hits the market in the coming weeks.
The Level 1, 33 Flemington Road centre is situated in Melbourne’s biggest medical hub, just 1.5km from the CBD, offering substantial exposure to passing vehicle and foot traffic.
CBRE agents Jimmy Tat, Josh Twelftree and Lewis Tong have been exclusively appointed to negotiate the sale on behalf of property developer Nicole Chow (UAG Group).
Mr Tat said; “With long term leases to the Leukaemia Foundation and multiple exclusive dentists and orthodontists, this is one of the most secure medical offerings to be brought to market in recent times. Located within Victoria’s true medical hub and directly opposite The Royal Melbourne Hospital, the investment is supported by strong demand for healthcare services within the precinct.”
Mr Twelftree added; “Population growth within The City of Melbourne is forecast to increase by around 115% by 2041. This, in addition to the property’s proximity to services and amenity, will be a significant positive in the long-term if re-letting of the space is required, given that vacancy rates for all property types in this area are very low.”
The centre has a building area of 590sqm and a WALE of circa 4.5 years across five separate tenancies, most notably the Leukaemia Foundation. This provides a net income of $321,047.
The property is being offered to market by way of Expressions of Interest, closing on Wednesday 10th April at 2.00pm (AEDST).
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
