A medical facility in Parkdale is being presented for sale amid heightened interest in suburban Melbourne investment opportunities.
CBRE’s Julian White, Sandro Peluso, Dylan Kilner and Josh Twelftree along with Dan Magree from Magree Property Advisory (Transaction Manager) have been appointed to sell the 152 Como Parade asset which is currently occupied by Calvary Health Care.
The property is improved with a functioning hospital, which offers a short-term lease to Cavalry. However, Mr Peluso noted that Cavalry has recently invested significant capital to repurpose the property to suit the group’s current needs.
“The improvements are substantial and offer the potential for a hospital operator to buy and occupy, or an investor to either extend the current lease or find a new tenant,” Mr Peluso said.
The facility has a building area of approximately 3,500sqm and originally offered 73 registered beds before Calvary re-positioned the property.
It is situated on a major site area of 4,765sqm, which would also suit a townhouse or aged care development, subject to the relevant planning approvals.
“The property is only 500m to the beach and in an established residential location, making it a highly appealing development proposition,” Mr White said.
CBRE’s Julian White, Sandro Peluso, Dylan Kilner and Josh Twelftree along with Dan Magree from Magree Property Advisory (Transaction Manager) have been appointed to sell the 152 Como Parade asset which is currently occupied by Calvary Health Care.
The property is improved with a functioning hospital, which offers a short-term lease to Cavalry. However, Mr Peluso noted that Cavalry has recently invested significant capital to repurpose the property to suit the group’s current needs.
“The improvements are substantial and offer the potential for a hospital operator to buy and occupy, or an investor to either extend the current lease or find a new tenant,” Mr Peluso said.
The facility has a building area of approximately 3,500sqm and originally offered 73 registered beds before Calvary re-positioned the property.
It is situated on a major site area of 4,765sqm, which would also suit a townhouse or aged care development, subject to the relevant planning approvals.
“The property is only 500m to the beach and in an established residential location, making it a highly appealing development proposition,” Mr White said.
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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.
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.
