A medical facility in Melbourne’s west is set to hit Australia’s emerging healthcare investment market, representing the second day hospital offering in Melbourne this year.
The Sunshine facility is currently leased to the largest gastroenterology and hepatology practices in Melbourne’s west, Dr Gastroenterology and Dr Scope, on two 10-year terms, both with further 10-year options.
The 493 Ballarat Road property earns a passing income of $520,000 per annum with a fixed rental increase of 3% from April 2020.
It is being exclusively marketed by CBRE’s specialist Healthcare team of Sandro Peluso, Josh Twelftree, Jimmy Tat and Marcello Caspani-Muto, following the recent $5.52m sale of Chesterville Day Hospital in Cheltenham on a yield of 5.1%.
Mr Peluso noted that it was unusual for two day hospitals to hit the healthcare market in such quick succession.
“The recent Chesterville Day Hospital campaign generated strong interest from high-net-worth investors and national medical funds, highlighting a growing demand for premium hospital investments,” Mr Peluso added.
The 2,130sqm site is activity centre zoned, features 21 car parks and is surrounded by a range of retail and lifestyle amenity, including Sunshine Plaza and Sunshine Marketplace.
“Located within a major activity centre, the property will benefit from the Brimbank City Council’s intentions to make Ballarat Road the gateway to Sunshine’s town centre,” Mr Twelftree commented.
The property will be offered for sale via Expressions of Interest closing Wednesday, August 21, 2019.
The Sunshine facility is currently leased to the largest gastroenterology and hepatology practices in Melbourne’s west, Dr Gastroenterology and Dr Scope, on two 10-year terms, both with further 10-year options.
The 493 Ballarat Road property earns a passing income of $520,000 per annum with a fixed rental increase of 3% from April 2020.
It is being exclusively marketed by CBRE’s specialist Healthcare team of Sandro Peluso, Josh Twelftree, Jimmy Tat and Marcello Caspani-Muto, following the recent $5.52m sale of Chesterville Day Hospital in Cheltenham on a yield of 5.1%.
Mr Peluso noted that it was unusual for two day hospitals to hit the healthcare market in such quick succession.
“The recent Chesterville Day Hospital campaign generated strong interest from high-net-worth investors and national medical funds, highlighting a growing demand for premium hospital investments,” Mr Peluso added.
The 2,130sqm site is activity centre zoned, features 21 car parks and is surrounded by a range of retail and lifestyle amenity, including Sunshine Plaza and Sunshine Marketplace.
“Located within a major activity centre, the property will benefit from the Brimbank City Council’s intentions to make Ballarat Road the gateway to Sunshine’s town centre,” Mr Twelftree commented.
The property will be offered for sale via Expressions of Interest closing Wednesday, August 21, 2019.
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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.
